Tianma Bearing Invested 300 million RMB in Large Ring Forging Technology Reconstruction

Resource from: CBCC Likes:2894

Nov 03,2009

According to the bulletin of Zhejiang Tianma Bearing Co., Ltd [27.19 1.04%] （0021220, its subsidiary holding company---Chengdu Tianma Railway Bearing Co., Ltd is projected to implement the Large Ring Forging Technology Reconstruction Project, and plans to invest 300 million RMB in this project, which are all the investment in fix assets and the capital will come from the company itself. The project is planned to start from November, 2009 and the construction period will be 1.5 years. After the implementation of the project, it will generate the production capacity of 50,000 tons of large ring forgings each year, and will increase 500 million RMB sales each year with the annual net profit of 50 million RMB. Tianma Company indicated that they will enlarge the investment and enhance the strength in research and development, improve the technological processes, and form the integrated process chain from materials to finished products, combining the technological advances accumulated in many years in order to improve the comprehensive competition of the company’s production.

(CBCC)

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