TOKYO, March 7, 2013 /PRNewswire/ -- Daiwa House (China) Investment Co., Ltd., a subsidiary of Daiwa House Industry Co., Ltd., signed a contract on February 22 to establish a joint venture company with Baoye Group Co., Ltd. The Baoye Group is a corporate group engaged in the general construction and real estate development businesses in the People's Republic of China. The joint venture company is scheduled to be established in September 2013 under the name of Baoye Daiwa Industrialized House Manufacturing Co., Ltd.

(Photo: http://prw.kyodonews.jp/prwfile/release/M000427/201303060337/_prw_OI1fl_D7w3kjit.jpg )

Beginning in September 2013, Baoye Daiwa Industrialized House Manufacturing will manufacture at its dedicated industrialized housing plant various parts -- including columns, beams, trusses, exterior wall panels and roof panels -- for lightweight steel frames used in low-rise housing units, and sell them to housing development companies within the Baoye Group as well as provide installation and erection supervision services.

In 2014, as the first stage, Baoye Daiwa Industrialized House Manufacturing will begin supplying these parts to the Kuaijishan Four Seasons Garden Development Project, a high-class resort development project in the city of Shaoxing, where Baoye's developer Shaoxing Baoye Four Seasons Garden Real Estate is currently selling housing units.

Subsequently, Baoye Daiwa Industrialized House Manufacturing is scheduled to sell these parts for Baoye's Zhitang Hu Development Project, as well as to government-owned and other general development corporations.

About Daiwa House Industry Co., Ltd.
The company is headquartered in Kita-ku, Osaka. Its President is Naotake Ono.

About Daiwa House (China) Investment Co., Ltd.
The company is headquartered in Suzhou, Jiangsu. Its President is Keiichi Yoshii.

About Baoye Group Co., Ltd.
The company is headquartered in Shaoxing, Zhejiang. Its Representative is Pang Baogen.

Contact:
Kai Sano
Corporate Communications Department
Daiwa House Industry Co., Ltd.
Tel: +81-6-6342-1381
E-mail: k-sano@daiwahouse.jp

SOURCE Daiwa House Industry Co., Ltd.