China Machine Tool Industry Reports Profits Rise in First Quarter

Resource from: CBCC Likes:2947

Jun 28,2007

Chinese machine tool industry registered in the first quarter of the year a profit rise by about one third from a year ago. According to statistics released by the China Machine Tool & Tool Builders' Association (CMTBA), in January to March, profits of the industry were RMB448.35 million, an increase of 33.5% from the corresponding period in 2006. A total of 175 enterprises from five machine tool related industries were involved in the statistics. Of the different industries, measuring and cutting tools were the industry recording the largest profits growth of 46.6%. The metal working machine tool industry posted a profit rise of 43.9%. During the review period, the 175 enterprises produced a total of 68,070 metal working machines, valued at RMB7.71 billion, up 14.1% and 31% from a year ago. Of them there were 12,870 CNC metal working machines, valued at RMB3.9 billion, up 35.4% and 49.9% respectively. They also produced 13,924 metal forming machines at a value of RMB1.24 billion, up 5.8% and 28.1% from a year ago respectively. Of them CNC metal forming machines amounted to 363 units, worth RMB3900 million in total, up 26.9% and 10.2% respectively.

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