C&U Group Purchased HBP's Standard Component Section

Resource from: cbcc Likes:2979

Dec 29,2004

Dec. 29 2004 It costed C&U Group RMB32 million to purchase the standard component section of Huangshi Bearing Plant(HBP). This can be regarded as a improvement of C&U's expansion strategy. The standard component section was the outcome of HBP's technical reformation and founded in 1996. This section has introduced top grade hot upset forging equipment HBP-160 and HPF-100. But as a result of the limitation from both system and marketing, the standard component section of HBP had to face the bankruptcy, so the two machines have never been taken good use of in that section. In 1999, C&U contacted HBP for cooperation. At first C&U wanted to purchase this section, but HBP was not willing to desert it. So the negotiation of cooperation lasted nearly 2 years. In 2001 the two company agreed to sign a lease contract which allowed C&U to manage the standard component section but didn't sell any equity of the section to C&U. The cooperation had been finished but problem of the equity's ownership troubled the two company all the time. Oct. 27 2004, the related department of Huangshi city invited public biding for the equity transfer of HBP's standard component section. C&U seized the chance to purchase the equity. We beliebe that the standard component section will develop well under the control of C&U. About C&U Group

(cbcc)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous ABC Bearings Plans Export Growth
Next JohnCrane Acquired Tianjin Dingming Seal Co.,Ltd

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.