Bearing Joint Ventures in China
In 1994, ZWZ and Interparts Industries(UK) formed the joint venture Wafangdian Hongda CV Joint Manufacturing Co.,Ltd. The company mainly manufacture CV universal joint and driving shaft assembly. In the joint venture, ZWZ hold 60 percent share leaving the rest to Interparts. From then on, ZWZ cooperated with KOYO, THK, MAT(US), SKF in succession. Dalian SKF-ZWZ Bearing Co.,Ltd is 51 percent held by SKF and the registered capital of this company is about RMB140 million yuan.
Yantai Bearing Plant and Timken
The two companies formed a joint venture, Yantai TIMKEN Co.,Ltd, in 1996. Timken is the holding party of this company and in charge of the company's operation and administration. For the lasting loss of the company, Chinese party gradually shrink their investment and share. However, Timken continue to invest as before. In about 5 years, the company changed from a joint venture to a Timken funded company. Now the company has become the largest manufacturing base of Timken in Asia.
Wuxi Bearing Plant and Torrington
The Torrington holding joint venture Wuxi-Torrington Bearing Co.,Ltd was founded in 1996. Just the same as Yantai-Timken Bearing Co.,Ltd, Chinese share in the company decreased gradually for the same reason. To 1998, Chinese party's share had decreased to 22 percent of the total. Following the acquisition case between Timken and Torrington, the company became a subsidiary of Timken.
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