Nanfang Bearing is to establish a subsidiary for auto parts manufacturing

Resource from: CBCC Likes:90

May 29,2014

According the announcement released on May 28, Jiangsu Nanfang Bearing Co., Ltd. is to set up a subsidiary with Haiya Bearing Co., Ltd. for development, manufacturing and sales of air conditioning bearings and automotive bearings. The subsidiary has been named as Jiangsu Nanfang Automotive Compressor Bearing Co., Ltd., with the registered capital of 20 million yuan. Nanfang Bearing Co. has invested 10.2 million yuan, thus has a shareholding of 51%. After the establishment of the new company, Nanfang Bearing will focus on the development and transformation of supporting products for vehicle manufacturers based on the up-to-date requirements of new models on performance and quality, thus realize synchronized development with OEMs.

(CBCC)

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