Hong Kong’s CITIC Capital acquires Nippon Oil Pump

HONG KONG, NNA - The Hong Kong-based investment unit of Chinese conglomerate CITIC Group said Tuesday it has acquired 100 percent ownership of Japanese machinery maker Nippon Oil Pump Co. under Beijing’s Made in China 2025 program.

CITIC Capital Holdings Ltd. expects an increase in demand for the Japanese firm’s expertise in small-sized and energy efficient equipment. Chinese manufacturers are trying to produce higher-value and more sophisticated products in line with the national policy.