Date: 2013-07-31

Wang Quanqing Attended the Groundbreaking Ceremony for "Construction Project of High-end Bearing Industrialization Base" Held by Xibei Bearing Co., Ltd.

On June 12, 2012, Xibei Bearing Co., Ltd. held a groundbreaking ceremony for the "Construction Project of High-end Bearing Industrialization Base" in Yinchuan industrial zone, and Wang Quanqing, executive vice chairman and secretary general of China Bearing Industry Association, attended the ceremony. Besides Xibei Bearing, other four projects including a solar project also held their own groundbreaking ceremony in Yinchuan industrial zone. Party Secretary of Ningxia Autonomy Region, Chairman of the Ningxia Autonomy Regional Government, and principal leaders of Ningxia NPC and CPPCC and from the municipal Party committee and the government of Yinchuan attended the project foundation stone laying ceremony.

The high-end bearing industrialization base project of the Xibei Bearing Co., Ltd. covers an area of ​​930 acres, with the total investment of 2.2 billion yuan, the total construction area of ​​440,000 square meters, the production construction area of ​​370,000 square meters, and construction period of 5 years. Under the support of the local government, Xibei Bearing will speed up the transformation and upgrading, and vigorously develop the bearings for application to industries including the petroleum machinery, metallurgical machinery, track transportation, wind power, construction machinery, heavy duty automotives, CNC machine tools, mining machinery, cement machinery, port machinery and marine machinery bearings themed by scientific development. After the completion of the project, Xibei Bearing Co., Ltd. will realize the bearing product sales of 3 billion yuan, and create a new Xibei Bearing with the innovations on the aspects of the system, mechanism, business philosophy of the company as the driving force.

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