NTN Forms Joint Venture To Make Railway Bearings In China

Resource from: Sally-CBCC Likes:2925

Nov 19,2007

NTN Forms Joint Venture To Make Railway Bearings In China In Nov 15, NTN Corp. signed a joint venture agreement with a Chinese train car maker----Nanjing Puzhen Rolling Stock Works (http://www.njpzclc.com) and will begin manufacturing railway bearings there in January, 2008. The new plant, with the total investment of RMB 6.6 Million, will produce railway bearing with speed of 160km per hour. Nanjing Puzhen Rolling Stock Works will take a 60% stake in the venture, while NTN will take the remaining stake. Nanjing Puzhen Rolling Stock Works is a wholely-owned subsidiary of China South Locomotive & Rolling Stock Industry Group. NTN aims to account for more China market share and strengthen relationships with China Railway via this joint venture.

(Sally-CBCC)

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