New Major Products Bring About Xibei Bearings Rejuvenation

Resource from: cbcc-yinx Likes:2925

Sep 18,2006

New Major Products Bring About Xibei Bearing's Rejuvenation As informed from Xibei Bearing Co.,Ltd, sales of their bearing for petroleum industry has hit RMB250 million up to now, over 2 times more than the sales in the corresponding period last year. Performance of the company has been changed fundamentally. Xibei Bearing had made tremendous contribution to national bearing industry and economic growth in Ningxia Hui Autonomous Region. Later they experienced the great trouble that caused them to be on the verge of collapse. Today, after their hard work, the company has rejuvenated. At the end of 2001, Xibei Bearing had been on the verge of bankruptcy for decreasing market shares of their major products, lack of money, debt and other reasons. To help the company out of the trouble, the new managment proposed a fresh developing strategy to eliminate poverty in three years and double the profit in five years. They had decided to carry out industrial restructuring and strive to forge three major products of petroleum machine bearings, rolling machine bearings and heavy-duty vehicle bearings in three years. Now, Xibei Bearing has seized over 80 percent of the domestic market share for petroleum machine bearings. More than 90 percent of such bearings being exported were from Xibei Bearing Co.,Ltd. Sales of their three major products take up more than 80 percent of their total sales. During the first eight months, their output value increased by 41.21% from the corresponding period in last year. NXZ is their registered brand name.

(cbcc-yinx)

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