LYC plans to build a "tens of billions high-end bearing industry base"

Resource from: CBCC Likes:95

Dec 13,2013

Luoyang LYC Bearing Co., Ltd. held a seminar to discuss the feasibility of building a "tens of billions high-end bearing industry base" in Beijing on December 11, 2013. Leaders of the State Ministry of Planning Division , Hi-tech Center of the Ministry of Science and Technology, Henan Luoyang Municipal Government, Energy and Chemical Group Co., Ltd. and Luoyang LYC Bearing Co., Ltd. attended the seminar. According to the plan, six industrial parks will be built with the total investment of more than 4 billion yuan. Once the project is completed, LYC's sales revenue will reach 10 billion Yuan, of which new sales income nearly 60 billion yuan, new taxes 1 billion yuan, new profit over 0.6 billion yuan. This project will greatly improve LYC's capacities concerning R&D, testing , technology, manufacturing and product quality of bearings and related products. After listening to the feasibility report of the project, the expert group conducted a series of consultation and demonstration. Finally, the expert group believes that LYC has the capacity to meet all requirements concerning the project construction, and the construction aim and programmes are reasonable and feasible as the project is in line with national industrial policies as well as the overall planning of Luoyang City, and has a good industrial base.

(CBCC)

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