A ZCM spokesman confirmed the sale and said Parsons Chain and ZCM had developed an extremely good working relationship over the last 10 years through a mining chain technology transfer agreement, which had helped make ZCM the quality producer it is today.

ZCM said the Parsons ethos regarding quality will be continued and reassured the Australian market this emphasis on quality will be maintained.

“The product is the same as we have bought the Parsons machines, supported by our state-of-the-art equipment,” the spokesman said.

The raw materials used to make the Parsons range of chain and chain fittings will be the same, with the compact links to be provided by Premiers Stampings and the steel bar from Corus Steel, both in the UK.

ZCM have also purchased the intellectual property rights to manufacturing the world-renowned Parsons XTRA quality and COR-X compact mining chain through a technology transfer agreement. These chains are used in coal mine conveyor applications.

ZCM said it was very excited by the opportunity and said the investment reinforces its strategy to be the largest mining chain manufacturer in the Pacific Rim, which had now become the world centre for coal output.

Mark Newton, director of Ellton Longwall, which supplies the chain to the Australian market, expects Parsons mining chain to become much more available and price competitive in the short term.

“Shipment from China into Australia is only two weeks as compared to the six to eight weeks from the UK,” he said.

Production of the Parsons full range of mining chains will be stepped up to meet the world’s market demand. ZCM is a subsidiary of China National Coal Group.