LYC Step to A New Starting Point at"the Second time to Start a Venture"
Resource from: CBCC Likes:2916
Jul 13,2010
The wind power bearing project and the automobile bearing project of the well-concerned “New LYC” project of Luoyang LYC Bearing Co. Ltd., Henan Coal and Chemical Group has successfully produced finished products. On July 6th, all the new off-line car bearing products met the technological standard and users’ requirements through strict detecting and started to send the first batch of products to the users.
The “New LYC” project was totally invested in 2.5 billion and the total planned area was 1,000 mu. The project was separated into two phases. It is planned to complete the first phase in 2010 and complete the whole project by 2015. The first phase was totally invested in 1.137 billion yuan, the total investment of the first phase is 1.137 billion yuan ,covering an area of 328 mu for construction. After the project started the production, it is s expected to achieve the annual sales income of 1.6 billion yuan, the profit and tax of 450 million yuan. After the whole project was put in production, it enables the company to increase sales of 6 billion. The main revenue of LYC bearings will be more than 10 billion yuan .
The “New LYC” project is the largest construction project in the investment history of LYC Company. It is the second time for LYC Company to start a venture to achieve the strategic aim of “First in China, First Class in the World ”, which is also one important project for Luoyang City and Henan Province to boost the equipment manufacturing industry.
All of the items constructed during the “New LYC” project are in accordance with state industrial policies. Since it was registered, it received the support of the national industrial policy and was listed in the key projects supported by the City and the Province.
On September 17, 2008 ,the “New LYC” project laid the foundation. Soon, it encountered the global financial crisis and the project construction faced up great pressure. Under the support of the Group and the Henan Coal Chemical Co, Ltd (HNCC for short), LYC Company has turned crisis into opportunities. It did not slow down the construction, but increased investment, which ensured the construction speed of the whole project. The construction not only went fast, the relevant supporting was also supplied in time. During the beginning of the construction, LYC Company has started to select the outstanding employees and gradually sent to each project of the “New LYC” project. The market development of the new projects and new products is also started. Automobile bearings project and wind power bearing project entered into the trial production phase, and the order is one after another ... ...
This year, influenced by the national macro-policy adjustment, the wind power bearings, slewing bearings and automobile bearings kept the favorable flourishing trend. The whole company impelled at full speed; the wind power bearing and automobile bearing projects have the trial production capacity separately in June and July. Currently, the precision bearings project was installing and debugging the equipments and the office building of factory and the building of R & D Test Center has started.
LYC Company is the birthplace of “highest precision bearings in China, the largest bearings, the heaviest bearing, the bearing with most parts and the unique structure”. The first batch of products produced by the “New LYC” project were off the production line successfully, which let the old state-owned enterprise step to the new starting point at the second time to start a venture.
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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.
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