BAOTA speeds up structural adjustment and upgrading to seek diversified development

Resource from: CBCC Likes:148

Jul 01,2015

Xibei bearing Co., Ltd. announced on Jun 5 that according to the business strategy development concepts, the company name was changed into BAOTA INDUSTRY CO .,LTD. to realize the diversified development of the company, to promote the transformation and upgrading of the company and to better adapt to the future development demands of the company. In 2014, under the downward pressure of global real economy, the bearing market was fiercely competitive because of insufficient market demands. BAOTA INDUSTRY CO .,LTD. achieved main business income of RMB 288 million, a year-on-year decrease of 4.62%. While other business income of the company reached RMB 156 million, a year-on-year growth of 606%, mainly due to the increase of steel materials trade. BAOTA INDUSTRY CO .,LTD. said the company would march toward high-end bearing industry. The metro bearings for replacing imported ones has entered into passenger carrying operation phase with very promising prospects. The company will accelerate research and development space, improve product additional value, and research and develop railway wagons bearing, military bearing, motor bearings, and rail bearings to generate new growth points; the company also will accelerate the upgrading the additional value of traditional advantageous products, such as petroleum machinery bearing, metallurgical rolling mill bearings, construction machinery bearings, spherical plain bearings, march toward high-end products, and promote product upgrading. It is known that the rail transit bearing project with the company’s investment of nearly RMB 200 million has currently taken shape. And the high-end bearing project with an investment of RMB 400 million is now under construction.

(CBCC)

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