The project of Wanxiang Precision in Gaogang District has been put into operation

After 9 months' hard work, the 1st phase of the auto hub bearing project of Wanxiang Precision with an annual production capability of 10 million suits was put into operation formally on March 28th. The workshops in the 2nd phase with an area of 70,000 square meters were started for the construction. It is said that the first phase of the project has an annual production capability of 2.5 million suits, and in 2015 the annual production capability will be 10 million suits with sales of RMB 1 billion when the whole project is completed and put into operation.

It is acknowledged that the auto hub bearing project of Wanxiang Precision was formally settled in Gaogang District last July. The project occupies a total area of 200 mu (1 mu = 0.0667 hectares), including the construction area of 87,800 square meters, with a total investment of RMB 500 million. Zhou Jianqun, Vice Chairman of Wanxiang Group, introduced that the board of directors will fully support the construction of the project, for it is not only a key project of National Torch Plan, but also a key project invested by Wanxiang Group.

According to the experts, the auto hub bearing project will help to drive the development of other 20 industries, including steel, forging and metal processing. Therefore, the participation of Wanxiang Precision will promote the development of an industrial chain in Gaogang District. Their target is to build a national industrial park engaging in the manufacture of auto parts.

Wanxiang Precision is a company specialized in auto part manufacturing belonging to Wanxiang Group. The leading products of Wanxiang Precision, hub bearings, are nationally new and famous products, which are adopted by cars and mini-cars at home and abroad with a domestic market share of 30%. The total sale of Wanxiang Precision was RMB 1.098 billion in 2010.