Date: 2013-07-31

Henan Coal Chemical Industry Group will boost the Bearing Industry in Luoyang

It is said that Henan Coal Chemical Industry Group is the solely state-owned company which is established on the basis of former Yongcheng Coal and Power Group, Jiaozuo Coal Industry Limited Liability Company, Hebi Coal Industry (Group) Corporation, Zhongyuan Dahua Group Ltd. and Henan Province Coal Gas Group. The registered capital is up to 12.2billion RMB and the total assets are 100 billion RMB; Last year, its business income has reached 82.1 billion with the profit of 5.6 billion RMB, and the output of coal is up to 45 million tons. All the indexes above are in the first place among the industry enterprises in Henan, and ranks the third among the top 100 coal industry in China.

Henan Coal Chemical Industry Group emphasizes the development in Luoyang, its nearly 10 enterprises in Luoyang now has developed into the important subsidiaries of the group.

When the chairman of the board of the Group, Chen Xuefeng was interviewed, he disclosed that the sign of the strategic cooperation frame agreement will boost the technique reform of Luoyang LYC Bearing Co., Ltd. and the construction of New Luoyang Bearing Project of Luoyang Bearing Shareholding Co., Ltd.

Chen Xuefeng also suggested that the group will also invest in the construction of the largest bearing trade market of China in Luoyang with the Luoyang government, which will boost the development of manufacturing industry.

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