China Wind Starts Production at New Factory
Resource from: CBCC Likes:2940
Feb 11,2009
Wuxi, China-based China Wind Systems (OTC:CWSI) started production today at its new manufacturing facility for wind turbine components.
China Wind produces forged rolled rings, wind tower flanges and gear rims—all components of gearboxes. Analysts expected a shortfall of about 5 gigawatts of gearboxes in 2008 relative to the demand for turbines.
The Wuxi City plant's completion clears the path for China Wind to sign definitive supply agreements with Wuxi Lida Gear Manufacturing, Gansu Keyao Electrical Power and Hangzhou Advanced Gearbox Group.
China Wind announced preliminary deals with the companies in September as it prepared for its expanded capacity, including a RMB 20 million ($2.9 million) deal to supply 1,350 tons of forged rolled rings to Wuxi Lida Gear Manufacturing for use in gear rims (see China Wind Systems inks ¥20M supply deal). Gansu Keyao Electrical Power said it planned to purchase 3,300 tons of wind tower flanges.
And earlier that month, China Wind Systems agreed to supply 150 tons of gear-rims to Hangzhou Advanced Gearbox Group starting in 2009 (see China Wind Systems cuts deal with large wind supplier).
"We remain optimistic with the outlook of our forging business for the wind-power industry, particularly in light of the Chinese government's announced commitment to support wind energy as a key economic growth area," said Jianhua Wu, chairman and CEO of China Wind Systems, in a news release.
The Chinese government has identified wind energy as one of the key economic growth areas during the economic crunch. China added 6,300 MW of installed wind capacity in 2008, reaching a total of 12,200 MW, according to the Global Wind Energy Council.
The Chinese Renewable Energy Industry Association forecasts that China could again double installed capacity in 2009. China is expected to surpass Germany as the leading wind-energy country by the end of 2009.
China also has the largest wind turbine manufacturing industry in the world, with more than 40 wind-component manufacturers including Goldwind, Sinovel Wind, Dongfang, Windey and Sewind (see China drives global market, supply for wind). China’s wind equipment market is worth about $8.59 billion annually.
Chinese manufacturers account for about 56 percent of wind equipment installed globally in 2007, according to the Global Wind Energy Council. Domestic manufacturing capacity is about 8 GW and is expected to reach 12 GW by 2010.
China Wind Systems plans for its new, 108,000-square-foot production facility to initially operate at half its capacity but reach 100 percent by 2010, at which point it would produce 40,000 tons of rolled rings up to 6.3 meters in diameter, as well as flanges, shafts and gear rims (see China Wind ramps to meet gearbox shortfall).
The $15 million expansion started in January to increase annual production from the current 8,500 tons of rolled rings up to 3 meters in diameter.
Because it no longer plans to outsource manufacturing, China Wind’s profit margin is expected to increase from 22 percent now, to 28 percent to 34 percent. China Wind designed its own equipment so that it can be repaired in-house, Wang said.
A second, 24-month expansion starts in December to allow China Wind to produce 400 gearboxes and 200 yaw bearings annually. Rolled rings are components of gearboxes.
China Wind has only been focused on this market since April 2007. The company started as Huayang Dye Machine in 1995 as a dyeing- and textile-equipment company. In 2005, the company added an affiliate, Huayang Electrical Power Equipment, to manufacture equipment that the company says allows the coal industry in China to produce electricity through a cleaner process.
()
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous SDS to Open New Manufacturing Base in Changchun
Next Longxi Bearing Awarded as Fujian Hi-tech Enterprise
Next Longxi Bearing Awarded as Fujian Hi-tech Enterprise
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
