LYC Bearing Initiate Oversea Parts Purchase

Resource from: cbcc-yinx Likes:2930

Apr 29,2007

LYC Bearing Initiate Oversea Parts Purchase On Apr. 13, the first lot turned pieces, 13 units including 36 pieces, were delivered to LYC Bearing Co.,Ltd. This is LYC’s first attempt to purchase parts from foreign supplier. In recent years, demand for ultra-large slewing ring has been increasing rapidly. LYC Bearing has been seriously strained by the limited supply of ring forgings. Since the beginning of 2007, tens of millions yuan’s worth orders for ultra-large slewing ring were constantly received by LYC Bearing, which produced a challenge to their purchase of ring forgings. Consequently, the company began to shift their purchase source from the traditional domestic market to global market since the beginning of this year, achieving an innovation in purchase mode and broadening their channels for purchasing. At the same time, this attempt can serve as a precedent for LYC’s other purchase in future. According to official from LYC’s material supply department, this oversea purchase can lessen the pressure posed by lacking of ultra-large ring forgings (diameter above 4.5m) on their production. Due to the higher quality, the imported forgings can be put into finishing process directly, shortening both purchasing and production cycle. Through oversea purchase, the company can reduce productive cost to a large extent, laying a resource foundation for LYC’s growth in the field of slewing ring. At present, LYC Bearing has signed strategic cooperation agreement with the forgings supplier. The name of this supplier was not revealed.

(cbcc-yinx)

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