On May 28th, 2014, Nanfang Bearing stated that it plans to invest 10.2 million yuan to establish a controlling subsidiary to produce air-conditioner bearings and expand the auto parts product line.
According to the announcement, in order to broaden the company's business in the bearing and auto parts industry, the company and Haiyah Bearing plans to jointly invest and establish a controlling subsidiary, Jiangsu Nanfang Automobile Compressor Bearing Co., Ltd., with a registered capital of 20 million yuan. Engaged in R&D, manufacturing and sales of air-conditioning bearings and auto parts. Among them, South Bearing invested RMB 10.2 million and its shareholding ratio was 51%.
It is reported that after the establishment of the new company, it will actively participate in the development and transformation of the accessory products of the vehicle manufacturer, timely grasp the requirements for the performance and quality of new components on the new models, and strive to develop synchronously with the automobile assembly companies, synchronize technological development, and develop simultaneously. Global supply needs.
With the steady growth of car sales in recent years, the demand for automotive air-conditioning bearings by vehicle manufacturers is increasing, together with the demand for maintenance markets, the market prospects are very broad. The company believes that the development of special bearings for automotive air-conditioning, especially mid-to-high-end bearings, can not only realize the substitution of imports, but can also achieve considerable economic benefits after the application.
HaiYa Bearing has been specialized in the production and sales of automotive air conditioning bearings and other automotive parts. The South Bearing is the industry leader in needle roller bearings and its core customers are the world's top automotive component manufacturers. At present, the company has similar production processes, equipment and technical personnel, and customer resources, and can further expand the air-conditioning bearings, auto parts product line, to provide customers with more sophisticated and more professional product services.
The company stated that the establishment of a joint venture company is conducive to expanding the company's business as a whole, relying on the advantageous resources of the parties to cooperate, and promoting the rapid development of the company's business has a greater role in promoting.
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