Yasunobu Suzuki President of NTN Corporation Visited LYC

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May 21,2012

On May 16, Yasunobu Suzuki, president of Japan NTN Corporation and his entourage, 13 persons in total, visited Luoyang LYC Bearing Co., Ltd. A forum was held during the visit, where Zhao Luzhong, general manager of LYC introduced the basic situation of the company in recent years, and pointed that "Through the developments in recent years, LYC has made great improvements in the business performance and enterprise strength, but when looking at the overall situation of the company, there is still a large gap on the aspects of technology, management, etc. between LYC and NTN, so we hope that the two companies will realize good cooperation in the early stage, and based on the rich fruits about to bear we can further extend the range of cooperation." Yasunobu Suzuki, president of Japan NTN Corporation said, "China is the world's largest auto manufacturer, and the cooperation project of the two sides right now is mainly the production of automotive wheel bearings. Currently, through the efforts of both sides, the project construction runs smoothly, and is going to enter the stage of equipment debugging. We shall make joint efforts in the next step so as to produce high quality products as agreed in the joint project as soon as possible. Meanwhile, NTN will also apply its good experiences to the joint project and help it grow and develope at the first opportunity." Subsequently, the two sides also exchanged opinions about how to further deepen the mutual cooperation.

(CBCC)

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