Date: 2015-05-07

ZWZ European R & D center was officially run

On April 10, ZWZ European R & D center’s plaque unveiling ceremony was held in KRW company in Leipzig, Germany. Cong Hong, the president of Wafangdian Bearing Group Corporation (hereinafter referred to as ZWZ), and the managing director of KRW company unveiled the plaque for ZWZ European R & D center.

During the ceremony, Cong Hong said that the construction of ZWZ European R & D center is to strengthen the cooperation in technology and market between ZWZ and KRW and jointly responded to market challenges. The R & D center has two functions: First one is to be the carrier of technological cooperation between ZWZ and KRW. The center will recruit bearing technological personnel, determine work targets, assign work tasks, and enhance ZWZ’s overall development capacity. Meanwhile, the center will organize the related technical staff from KRW and ZWZ to carry out regular technical exchanges, jointly develop products, increase technological operation efficiency. The second one is to be the carrier of simultaneous development with global clients. As the bearing enterprise with the strongest comprehensive strength in China, ZWZ has always been favored by the world’s famous enterprises. The technological combination of ZWZ and KRW will enhance ZWZ’s customer service capacities through jointly development of big customers and synchronous development with customers.

About KRW

Located in Leipzig, a major industrial town in Germany, KRW Bearing has over 100 years’ production history of industrial bearing. As an important bearing manufacturing enterprise, its products are widely applied in railway vehicles, machinery manufacturing and new energy fields.

On August 19th, 2013, the equity delivery ceremony of merging German KRW Bearing was held in Frankfurt, Germany by ZWZ. ZWZ successfully acquired the whole shares held by KRW Bearing. It marked the "internationalization" strategy of ZWZ has made significant progress.

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