News Column

Changzhou Guangyang Bearing to Build Auto Bearing Project

January 27, 2014

SHANGHAI , January 27 , SinoCast -- Changzhou Guangyang Bearing plans to finance CNY 306.2 million for an auto precision bearing project and CNY 44.68 million for a tech center project. The company has been suppliers of world multinational powertrain manufacturers like ZF Friedrichshafen and EATON, but it has not adequate production capacity to raise sales. The company's export incomes accounted for 1.21%, 1.72% and 1.08% of total incomes from 2010 to 2012. The China Bearing Industry Association estimates that minimum auto bearing market capacity would be 2.71 billion units by 2015. The project to be built with financing will produce 113.25 million units, accounting for 4.17% of the market.

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Source: Sinocast Transportation Beat (China)

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