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May 19, Huachen Group signed the investment agreement with Harbin Bearing Group, becoming the biggest shareholder in Harbin Bearing Group.
The negotiation about this agreement had lasted for nearly a month. Both parties reached a consensus in all aspects that might be involved. With the reliable financial support of Huachen Group, Harbin Bearing could carry out their reform more smoothly.
For Huachen Group, a real estate tycoon, it is critical to become involved in the manufacturing industry. Being engaged in both secondary and service industry will laid a solid foundation for their entering the national Top 10 Enterprises List.
Harbin Bearing Group is one of the largest bearing manufacturers with long history. They, together with Luoyang Bearing Group, Wafangdian Bearing Group, were known the Three Powers in Chinese bearing industry.
Huachen Group, situated in Fuzhou, Fujian province, is a well known real estate operator in China with registration capital over RMB3 billion.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| 32040-X-N11CA-A350-400 bearing | 200 | 310 | 140 |
| 32038-X-N11CA-A350-400 bearing | 190 | 290 | 128 |