LYC Joint Venture Project was Listed among Luoyang Strategic Pillar Industry Key Projects
Resource from: CBCC Likes:3009
Apr 14,2011
Recently, LYC joint venture project with the world well-known bearing enterprise NTN - to establish the world most advanced automotive hub bearing and needle bearing plant in Luoyang has been listed among Luoyang strategic pillar industry key projects released in "The Twlfth Five-Year Plan for the National Economy and Social Development in Luoyang", which has highlighted the important position and good development prospects of this project.
LYC successfully held the joint venture contract signing ceremony with NTN on October 11, 2010, meanwhile was reported on "CCTV-News Broadcasting" that night. Thus many domestic media began to eagerly forward this message, which has enhanced the popularity and influence of LYC both at home and abroad.
The joint venture is located in Luoyang Luolong Science & Technology Park, covers an area of 200 acres. And the total investment amounted to 93.50 million U.S.dollars under the joint venture contract, that is 50% share for each side. The joint venture will establish an advanced plant conforms to the national industrial polices, meanwhile it will stands for the development trend of bearing market with its international advanced production technology. At the same time, the project plans to produce high-quality 2nd & 3rd generation hub bearing units and needle roller bearings used for transmissions, and all the products manufacutred in this joint venture will aim at the auto industry.
What's more, the municipal government of Luoyang has attached great importance to the construction of this demonstration project. A lot of preparations have been made by the government to ensure the smooth construction of this project, such as, introduced relevant security measures, established target responsibility system, intensified the coordination and promotion, strengthened rewards & punishment system, created good construction environment, etc.
(CBCC)
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