- Hello Customer - Log in or Register!
With the coming of summer, Wafangdian Bearing Group has been busy doing the construction work of their new industrial zone, the 275,000 square meter covered area where they have invested RMB1.2 billion. It is reported that this industrial zone will be home to several high tech based enterprises like Wafangdian General Bearing Co.,Ltd, a Sino-American joint venture. It is estimated that there will be RMB2 billion's additional sales after the complete of this construction work.
In recent year, Wafangdian Bearing not only maintained a good momentum of growth in China, but also expanded to the international market. In 2005, their total sales were RMB3.26 billion, including $54 million of export, putting them 13th among bearing producers all over the world. During the first five months 2006, their industrial output value had increased by 23%, sales increased by 21%.
However, they were just an enterprise being threatened by bankruptcy 7 years ago. At that time, Wafangdian Bearing was in so embarrassed a state. They had receivables exceeding RMB1.4 billion; met loss of market share; salary and bond in arrears were RMB114.4 million; interest and tax in arrears hit RMB130 million. Among all 90 subsidiaries, there were 73 enterprises operating without any profit and sharing resources of Wafangdian Bearing, which intensified the company's burden.
At that critical moment, Wafangdian Bearing resolutely took reform as their only way. They proposed the principle of "Divesting, Market oriented, Multi-ownership". Then, all subsidiaries began to operate independently, including independent accounting and debt repaying. From then on, Wafangdian Bearing began to recover and develop.
In the following years, they streamlined their organization and lowered salary expenses by optimizing ownership of subsidiaries; decreased rate of debts through restructuring some subsidiaries. All changes fueled the company's development. Since 2004, Wafangdian Bearing began to prepare for repaying their long-lasting bank loan. At last, they repaid the bank loan, RMB128 million, via one-off repayment.
At present, Wafangdian Bearing are seeking strategic partners to accelerate their reform. As a result, lots of group enterprises are talking with them over cooperation. According to Mr. Wang lushun, president of Wafangdian Bearing Group, they are expected to increase their annual sales to RMB10 billion by 2010; have 30 percent of their products reach international level; expand export to 3 times as much as it has been in 2005; make themself one of the world Top 10 bearing producers.
ZWZ is the registered brand of Wafangdian Bearing Group.
http://www.zwz-bearing.com/
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| H3032HG bearing | 160 | 190 | |
| H3932HG bearing | 160 |