Northwest Bearing Co. plans to set up a subsidiary in Ningxia

Resource from: CBCC Likes:136

Dec 30,2013

Northwest Bearing Co. Ltd. announced on December 28, 2013, that the company plans to set up a subsidiary under the name of Northwest Rail Rraffic Bearing (Ningxia) Co., Ltd. With a registered capital of 10 million Yuan, the subsidiary will mainly focus on the processing, maintenance, design and export business of rail traffic bearing products. Though standing as the largest bearing manufacturer in Western China, Northwest Bearing has experienced significant downfall in industry profitability in recent years, and is now in the critical period for industrial transformation and upgrading. Previously, the company has announced the plan to invest 188 million yuan in the construction of a rail traffic bearing project in Ningxia with the purpose of improvement in product mix. The establishment of Ningxia subsidiary is believed to applied as the subject of implementation.

(CBCC)

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