Bayi Iron & Steel raises localization rate of bearings through cooperations with LYC and ZWZ

Resource from: CBCC Likes:106

Jul 01,2014

Recently, Xinjiang Bayi Iron & Steel Co., Ltd. and Luoyang LYC Bearing Co., Ltd. signed a cooperation agreement to jointly promote the localization of equipment accessories. Currently, relevant staff from the two sides have started the surveying and mapping work. Industrial enterprises make heavy use of bearings that is one of the important parts of large rotating equipment. As the demand of Bayi Iron & Steel for large-scale and up-to-date production equipment is increasing, imported bearings with high perfomance but higher cost become necessities. Wherein, the price of rolling mill bearings is much higher. In order to reduce procurement costs, Bayi Iron & Steel signed a strategic cooperation agreement with Wafangdian Bearing Group Corporation in March 2011, mainly for the development of large bearings, which has greatly increased the localization rate of bearings in the company.

(CBCC)

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