MAXAM's first China unit starts operations in Shandong province

MAXAM, a provider of energetic materials and blasting solutions, aims to gain a toehold in the China market with its first plant in Shandong province having started operations, company executives said.

With a total investment of 70 million euros ($77.8 million), the new facility is a joint venture project among MAXAM, Shandong Tianbao and Weihai Yuboqiang. It began operation last week.

"We are very excited about starting our new journey in China, a large and promising market," Jose Fernando Sanchez-Junco Mans, chairman and CEO of the company, said at the opening ceremony.