Xiangyang Automobile Bearing Co. plans to set up a joint venture company

Resource from: CBCC Likes:154

Mar 10,2014

Xiangyang Automobile Bearing Co., Ltd. recently announced that the company intends to jointly fund with Hubei Tri-Ring Chengtao Trade Co., Ltd. for establishment of Hubei Xiangyang Tri-Ring Equipment Technology Co., Ltd. (tentative name, subject to the approval of the Trade and Industry Bureau). According to Liao Yonggao, chairman secretary of Xiangyang Automobile Bearing Co., Ltd., a formal agreement is expected to sign soon. Through the establishment of the new company, Xiangyang Automobile can reduce equipment procurement costs, and further enhance the equipment level by use of the equipment procurement platform of Hubei Tri-Ring Chengtao Trade Co.

(CBCC)

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