Shenyang Machine Tool Group to Launch Two New Projects

Resource from: CBCC Likes:3006

Jun 25,2007

Shenyang Machine Tool Group to Launch Two New Projects Shenyang Machine Tool (Group) Co Ltd (SMTCL) is reportedly planning to invest at total of RMB1.04 billion to carry out two new projects in the northeastern Chinese city of Shenyang, where it is based. One of the projects will be a production base for high-end CNC machine tools. Encompassing 340,000 square meters of land, it is planned for a capacity of 40,000 units, generating RMB4 billion of revenue per year. Investment of this project alone will amount to RMB880 million. The other project is an industry park for functional parts, which involves an investment of RMB1.6 billion. Construction has started and upon completion, it will offer an annual capacity of 220,000 tons of sheet metal works, 30,000 sets of CNC tool holders, 10,000 tool magazines, plus 11,000 sets of CNC control systems (including servo motors). Expected sales revenue is RMB1.1 billion. With the two projects, SMTCL aims to lay a good foundation for the company to achieve its goal of producing RMB10 billion worth of output in a year.

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