Date: 2013-07-31

TMB Announces Capital Injection in Subsidiary

Zhejiang Tianma Bearing Co., Ltd. announced a RMB 99.9 million capital injection into Qizhong CNC Equipment Co Ltd, a CNC machine tools manufacturer and a 55.13%-owned unit of Chinese state-owned Qiqihar State-owned Assets Supervison & Administration Commission, in which its holding will increase from 65.12% to 71.39%.

Founded in 1987, Zhejiang Tianma Bearing Co., Ltd.(TMB) mainly manufacture deep groove ball bearings, cylindrical roller bearings, angular contact ball bearings, spherical plain bearings, self-aligning roller bearings etc. Their products are widely used in various industries such as automobile, railway, shipbuilding, agricultural machine, engineering machine etc. They employ approximately 1300 people, about 100 of which is technical staffs with senior or intermediate professional certificates. TMB is their registered brand.

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