China Bearing Limited Announce 2007 Missions
Resource from: cbcc-yinx Likes:2941
Mar 19,2007
China Bearing Limited Announce 2007 Missions
China Bearing, a Singapore stock exchange listed Shandong beairng maker, announced their three major missions in 2007.
They aim to put into operation their second plant in Yinan county, Shandong province to bring more profit; and to open up the market of bearings for cars; as well as to travel to other countries, reaching the latest technologies and informations which will be useful for their international expansion.
The Yinan plant will cost 15.5 million yuan, including 5 million yuan on basic construction and land purchase, 10.5 million yuan on introducing machinery equipments. At present, the construction work has been finished. The company are planning to equip it, start trial operation and optimize production procedures during the period from 2nd to 3rd quarter.
From the 4th quarter, they are expected to engage in producing car bearings and heavy duty bearings for distance bus, container carrier truck and cranes. But the output of these bearings may be no more than 25 percent of its designed full capacity then.
Zhang anxi, president of China Bearing (Singapore) Co.,Ltd, expected the annual output of 3.5 million bearings, 3.2 million of which are heavy-duty ones, others are car bearings.
In order to enter the foreign markets, China Bearing set sales office in Shanghai, where they think is source of business chances for themself and foreign customers. Reportedly, the company are negotiating with customers from India and Japan respectively.
At the beginning this year, they had supplied miniature bearings worth 300,000 yuan to their first Indian customers. Zhang said that similar business exchanges will continue. After his business trip to Russia, Sweden, Denmark since their Singapore listing, a new one to Thailand is due in the following one or two weeks.
In 2006, China Bearing’s sales all come from China mainland, including an order with delivery destination to American company but placed by their representative in China. So far, China Bearing Co.,Ltd have no customers in South Easten Asian countries. However, they have a long-term plan to have presence there, entering more markets.
(cbcc-yinx)
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