US bearings producer to set up plant in HunanFriday, April 11, 2008; Posted: 12:36 AM
BEIJING, Apr 11, 2008 (Xinhua via COMTEX) --
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PR Charts -- The Timken Company and Xiangtan Electric Manufacturing Co., Ltd. (XEMC) will set up a joint venture i
n Hunan Province.
The joint venture will be the fifth plant Timken in China.
Its total investment amounts to 39 million US dollars, and its registered capital, 13 million dollars. Included are 2.6 million dollars, or 20 percent, from XEMC, and 10.4 million dollars, or 80 percent, from Timken (Hong Kong).
The new company's business will cover production and assembly of bearings and related components, product marketing, status monitoring service, after sales service, maintenance, project and application support, technical training, and consultation.
The US-based Timken is a large producer of engineered bearings, alloy steels and related components and assemblies.
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