Date: 2016-11-11

Luoyang Bearing Science & Technology to establish a joint venture special for high-speed rail bearings

Luoyang Research Technology Co., Ltd recently announced that the company planed to establish a joint venture special for high-speed rail bearings with CRRC Capital Investment Company and other companies under the name of Zhejiang High-speed Rail Bearing Co., Ltd.

According to the announcement, Luoyang Bearing Science & Technology expected to transfer its existing high-speed rail bearing business to the joint venture by means of equity transactions, including the core project "High-speed Heavy-load Rail Bearing Industrialization Demonstration Line".

This project, provided with an investment of 161 million yuan, is China's first high-speed rail bearing industry demonstration line. It is designed with an annual output capacity of 60,000 sets of bearings, including 30,000 sets of high-speed railway bearings, 20,000 sets of urban rail transit vehicle bearing, and 10,000 sets of locomotives and transmission bearings. In June this year, the demonstration line has been offically put into small volume production of high-speed rail bearings and urban rail bearings.

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