HRB Building Another New Bearing Plant

Resource from: Sally-CBCC Likes:2931

Oct 11,2007

HRB Building Another New Bearing Plant Harbin Bearing Group Co. recently signed a contract with Limin Economic And Technology Development Zone in Hulan District to build a new plant in that area with CNY 1.5 billion. To be completed in two to three years, the 300,000-square-meter project is to produce an output value of CNY 5 billion and a pre-tax profit of CNY 900 million yearly. Its construction is planned in three phases. From end-2007 to 2008, the first phase has an investment of CNY 300 million, covering a floor area of 100,000 square meters. It is to make military bearings. As one of the three large manufacturing bearing bases in China, Harbin Bearing owns total assets of CNY 3.67 billion. It mainly provides supporting services for industries including automobile, agricultural machinery, locomotive, electrical machine and apparatus, engineering mechanism, machine tool, light industrial goods, metallurgy, mining machinery, petroleum and chemical industry, aviation and aerospace, and national defense. It has made tens of bearings for China's manned spaceships Shenzhou V and VI spacecrafts and Long March 2-F carrier rocket.

(Sally-CBCC)

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