Date: 2013-07-31

Xibei Bearing Petroleum Machine Division Operate Next Month

Xibei Bearing Petroleum Machine Division Operate Next Month

Xibei Bearing Stock Co.,ltd source, their NXZ brand has been selected as China Famous Brand. Meanwhile, Petroleum Machine Bearing Co.,Ltd, formed by Xibei Bearing, CSC Bearing and a private investor, are expected to be put into formal production at the beginning next month.

Oct. 17, NXZ brand was selected as China Famous Brand by State Administration for Industry & Commerce and their subordinated brand appraisal commission. For a long time, Xibei Bearing's NXZ brand has ranked second in their public recognition in Chinese bearing industry. With the title of China Famous Brand, the company will enjoy futher improvement in their business.

In recent year, NXZ bearings have been exported to many countries and regions in Europe, America and Aisa, entering the global purchasing and supply chain of several world leading bearing producers. In 2006, they have received sufficient orders and orders for petroleum machine bearings were more than twice the amount in 2005. Now, demand of NXZ bearings remain exceed supply.

Petroleum Machine Bearing Co.,Ltd is formed by Xibei Bearing Group, CSC Bearing and Peng aikun, a private investor in the middle of this year and will be put into formal production at the beginning of November. This company are designed to expand production of petroleum machine bearings, speed up production of other main products, including metallurgy machine bearings, ultra-large bearings etc.

In the past years, Chinese government have invested RMB50 to 60 billion in railway construction and the investment are expected to reach RMB160 billion in 2006, keeping grow in the following years. Domestic railway construction will bring large demand for railway bearings, which is the advantage product of Xibei Bearing.

In the 3rd quarter, sale of main businesses were RMB123 million, a rise of 37.96 percent from last year; net profit reached RMB3.48 million, increased by 72.54 percent.

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