Bearing enterprises in China into the U.S. auto industry core area

CiXing China group, the CW company in Detroit north American manufacturing center 25 starts, suggests another high-end manufacturing enterprises in China into the U.S. auto industry core region, the manufacturing center will provide the popular models ford F150 pickup steering system used in bearing.CiXing bearing manufacturing enterprise group in China is located in the Detroit metropolitan area northwest noth in new workshop, fully automated production equipment has finished installation and debugging, the full power, for the American carmakers such as ford, gm steering system used in the bearings.Bearing enterprises in China into the U.S. auto industry core at the start of the day ceremony, CiXing group chairman Hu Xian root, said the establishment of north American manufacturing center marks the group & other;A solid step to the transformation and upgrading & throughout;And group & other;Market globalization, talent internationalization, high-end products & throughout;The development idea of the perfect interpretation.The famous bearing company founded in 1984 in ningbo China, from the small workshops to break into the U.S. auto industry core region Detroit spent 30 years.Hu Xian root to the xinhua news agency said, to catch up with the international advanced level, Chinese enterprises will have to be integrated into the international trend.Start on the day of the manufacturing plants belong to the first phase.Hu Lirong CiXing group research and development of American manufacturing co., LTD. General manager, said the next step will be to invest $20 million in construction phase ii workshop.He said, at present the company in the team of more than 50 people, only two Chinese, the other workers, sales personnel, research and development personnel, and management team are all americans.In 2006 to join the company’s vice President of the CW jay & middot;Crick told xinhua reporter, said that in the new factory will be assembled in the production of products to the United States on a series of one of the most famous models, including the top sales ford F150 pickup trucks in the United States, as well as the mustang, camaro and other classic American cars.Chinese consul general in Chicago, hong lei said at the launching ceremony, this is an important greenfield investment of Chinese enterprises in Michigan, is also the Chinese enterprise and Michigan’s another example of the development of investment cooperation relations, will provide the customer with high quality products, create more jobs for local, bring more taxes to the local government.He said, this fully shows that china-us economic and trade cooperation is a win-win cooperation.Increased rapidly in recent years, Chinese companies to invest in beauty.U.s.-china relations national committee and association of rhodium group, according to a report by the end of 2016, the Chinese enterprise direct investment stock roughly $110 billion in the United States, the cumulative create 141000 direct jobs for America.(the original title: Chinese bearing enterprises into the U.S. auto industry core) (source: xinhua news agency)

The ministry of the public service oriented manufacturing enterprise demonstration list in 2017

According to the general office of the ministry of industry and information technology on notice for the conduct of a service-oriented manufacturing model selection (ministry hall industry letter [2016] no. 838), recommended by the organizations, the expert group review, now will be proposed to be included in the 2017 list of service-oriented manufacturing enterprises (projects), platform demonstration to the public, please supervision from all walks of life.Public time is on August 22, 2017 – August 28, 2017.Service-oriented manufacturing 2017 demonstration enterprises (projects), platform list in 2017 (the original title: a service-oriented manufacturing demonstration enterprises (projects), platform list) (source: the ministry micro)

Dalian machine tool drag in 2.1 billion the bank of China is difficult to accept many financial institutions

Recently, in the midst of a bond default vortex dalian machine tool group co., LTD. (hereinafter referred to as “dalian machine tool”) to disclose the reference.Dalian machine tool and its subsidiaries huge bank loans overdue large area, many financial institutions “ray”.On July 31,

, dalian machine tool, according to the announcement by the time of the announcement, the company and its subsidiaries caliber cumulative debit interest amount is 429 million yuan, the bank acceptance bill advances amount is 2.031 billion yuan, overdue loan amount is 3.607 billion yuan, total amount is 6.067 billion yuan, accounting for 117.28% of the late 2015 audited net assets.Dalian machine tool, “admits the above debit interest and advances have bad impact on company operation and solvency.Debit interest debit interest in

, dalian machine tool is

yuan RMB, a subsidiary of dalian (nc) machine tool co., LTD. (hereinafter referred to as “nc shares”) debit interest, amounting to 148 million yuan, a subsidiary of dalian HuaGen machinery co., LTD. (hereinafter referred to as the “mechanical” HuaGen) debit interest, amounting to 116 million yuan up to 20, the involved financial institutions include Banks, changan, antu agriculture in jiangsu commercial bank, societe generale, ping an trust, trust nakae trust, the bank of China, construction bank, agricultural bank, huaxia bank, bohai bank, ping an bank, guangdong development bank, China merchants bank, citic bank, hebei, China aviation leasing, cinda leases, societe generale, agriculture bank, Great Wall leasing.Advances in

, bank acceptance advances CNC co produced 1.572 billion yuan, the bank acceptance advances HuaGen machinery to produce 459 million yuan, involving bank: China merchants bank, bohai bank, bank of China, ping an bank, Harbin bank, bank of shengjing.

loans overdue, dalian machine tool and its subsidiaries total overdue amount of 3.607 billion yuan.Among them, the bank of China’s largest, a total of 15 t, the amount is 1.395 billion yuan.Other financial institutions and industrial trust 1 billion yuan, China construction bank 700 million yuan.Plight debt

currently, dalian machine tool, the drag on the financial institutions, the bank of China, involving a value of RMB 2.161 billion.Debit interest is 44.58 million yuan, including: CNC shares HuaGen mechanical debit interest is 65.1 million yuan, acceptance bill advances 300 million yuan (nc), 356 million yuan (HuaGen machinery), overdue loans of 1.395 billion yuan.It is worth mentioning that the bank of China is not only a creditors, dalian machine tool recently have been exposed as JiLinJi en nickel industry co., LTD. (stock abbreviation: * ST gene), the second largest creditor.According to the debt of * ST announced jean a schedule of overdue borrowing and debit interest related data show that China citic bank loan of RMB 2.285 billion yuan, the bank of China loan of RMB 1.2 billion yuan.In addition,

on July 31, dalian machine tool, according to the announcement issued by a company period of ticket “15 machine MTN001” by the authorization day end, failed to fully pay interest, constitute a substantial breach.In fact, it was the ninth straight to default on its debt.Last November 21, dalian machine tool “15 machine CP003” expire failed to honour, for the first time since the default, we have accumulated up to 3 times failed to servicing, 4 times not repays the principal and interest, two trigger an cross default, involves the lead underwriters have industrial bank, Shanghai pudong development bank, China development bank.

reporters on the matter at dalian machine tool, the phone went unanswered.Amount to more than

institutions “ray” bank of China, industrial trust “in”

7 31, dalian machine tool itself and subsidiary of disclosure, according to the recent credit situation extremely nervous, the money chain produced bank debit interest and bank acceptance draft advances, many financial institutions “ray”.

, according to the announcement by the announcement period of dalian machine tool and its subsidiaries caliber cumulative debit interest amount is 429 million yuan, the bank acceptance bill advances amount is 2.031 billion yuan, the overdue loan amount is 3.607 billion yuan, total amount is 6.067 billion yuan, accounting for 117.28% of the late 2015 audited net assets.”Above debit interest and advances have negative influence on our company management and solvency, my company is actively communicate with the agencies, negotiate and to properly handle the debit interest and advances problems.”Debit interest

, dalian machine tool is

yuan RMB, the debit interest CNC co is 148 million yuan RMB, the debit interest HuaGen machinery is 116 million yuan RMB.

in the debit interest of dalian machine tool, credit institutions is jiangsu bank, bank of changan, antu agri-businesses trust bank, societe generale, ping an trust, nakae trust, the biggest industrial trust of 66.15 million yuan.

CNC shares debit interest, credit is the bank of China, construction bank, agricultural bank, huaxia bank, bohai bank, ping an bank, guangdong development bank, China merchants bank, citic bank, hebei leasing, catic rental and leasing, cinda amount ranging from millions to tens of millions, the biggest bank of China, 44.5794 million RMB.

in HuaGen mechanical debit interest, credit is the bank of China, construction bank, huaxia bank, bohai bank, industrial bank, ping an bank, bank of agribusiness, China aviation leasing and the Great Wall, the biggest bank of China, 65.0952 million RMB.Advances in

, bank acceptance advances CNC co produced 1.572 billion yuan, the bank acceptance advances HuaGen machinery to produce 459 million yuan, involving Banks and compensation: China merchants bank, 600 million, 184 million of bohai sea bank, bank of China, 184 million, 125 million, Harbin bank 065 million, ping an bank 392 million shengjing bank.

loans overdue, dalian machine tool and its subsidiaries total overdue amount of 3.607 billion yuan.Among them, the bank of China’s largest, a total of 15 t, the amount is 1.395 billion yuan.Other financial institutions and industrial trust 1 billion yuan, China construction bank 700 million yuan.

actually, “ray” dalian machine tool not only has the financial institutions such as Banks, and P2P network platform red ridge venture capital loan.On July 4, red hill toward venture since 2016 released by the project loan, according to the specific circumstances since 2016 red ridge vc two of non-performing loans, a pen is huishan dairy affiliates guarantee capital 50 million yuan, overdue interest 1.4375 million yuan;Another pen is dalian machine tool equity pledge capital 150 million yuan, 7.84 million yuan overdue interest.

bond default follow-up lead underwriters are vocal

8, dalian machine tool in Shanghai clearing house about “16 big SCP001 machine tool”, “16 big SCP002 machine tool”, “16 big SCP003 machine tool”, “16 big MTN001 machine tool”, “15 CP004 machine tool”, “15 PPN001 machine tool”, “14 PPN001 machine tool” and “15 machine MTN001” default the announcement of the progress of the follow-up related matters.The lead underwriters are industrial bank, Shanghai pudong development bank, China development bank.

announcement, points out that the first phase of the dalian machine tool 2016 short-term financing bonds (bonds, 16 big machine SCP001, total 500 million yuan, the bond period 270 days, interest-bearing bonds at an annual rate 7%) on December 12, 2016, not timely payment of principal and interest;Dalian machine tool in 2016 the first phase of the medium-term notes, bonds, 16 big machine MTN001, total 400 million yuan, interest-bearing bonds interest rate 7%, bonds over 3 years) on January 16, 2017, not timely payment of principal and interest;The road machine tools in 2015 the first phase of the medium-term notes (bonds, 15 machine MTN001, total 400 million yuan, interest-bearing bonds interest rate 7%, bonds over 3 years) in 2017 on July 31, not timely payment of principal and interest;These bonds have constitute a material breach.

dalian machine tool 2016 the second phase of the short-term financing bonds (bonds, 16 big machine SCP002, total 500 million yuan, interest-bearing bonds 6% annual interest rate, the bond period for 270 days), 2016, the third phase of short-term financing bonds (bonds, 16 big machine SCP003, total 500 million yuan, interest-bearing bonds interest rate 6%, the bond period for 270 days), respectively, the main road, a subsidiary of dalian machine tool machine tool marketing co., LTD has 4 599.0475 million yuan accounts receivable accounts receivable and 5 557.6531 million yuan as the pledged collateral assets.

because of the dalian machine tool debt default, “16 big machine SCP002” and “16 big machine SCP003” trigger cross default (protection), has been on February 13, 2017, respectively, and on February 7, 2017, constitute a material breach.More than

bonds lead underwriters are the five societe generale.

day, societe generale also released “industrial bank co., LTD. About dalian machine tool group co., LTD. In 2015 the first phase of the medium-term notes fail to pay the interest of announcement.Announcement, given the “15 machine MTN001” fail to pay the interest constitute a substantial breach, cause serious damage to the holder of the interest, societe generale as the main underwriter of the follow-up will launch the following holder protection mechanism.Societe generale will urge the large machine tool through more channels to raise payments of money, as soon as possible to complete 15 machine MTN001 “pay interest on money.Societe generale will actively listen to the holder of the relevant demands, in the mid to late August 2017 “MTN001 15 machine tool holders meeting, negotiating with large machine tool holder and your communication after the default relief measures, the holder of the rights and interests maintenance.

moreover, dalian machine tool 2015 in the fourth stage of short-term financing bonds (bonds referred to as “15 machine CP004, found the amount is 500 million yuan, a 7% coupon, issuing period 1 year) on December 29, 2016, failed to timely payment of principal and interest;Dalian machine tool 2015 first non-public directional debt financing instruments (bonds are issued in 15 machine PPN001, hereinafter referred to as amount is 500 million yuan, a 7.8% coupon, issuing deadline three years) on February 6, 2017, did not pay the interest on schedule;Dalian machine tool 2014 first non-public directional debt financing instruments (bonds are issued in referred to as “14 PPN001 machine tool, the value of 500 million yuan, a 8.6% coupon, release period of 3 years) in 2017, failed to timely payment of principal and interest on May 22.The above three periods of debt already constitute a material breach.

among them, 15 machine CP004 “lead underwriters for the Shanghai pudong development bank and China development bank,” 15 PPN001 machine tool “and” 14 machine PPN001 “lead underwriters for the Shanghai pudong development bank.That

dalian machine tool, according to previous holders meeting resolution by default disposal bill, we will continue to do a follow-up bill to carry out the work and related information disclosure work, communication with the default bond investors repayment plan implementation schedule, to protect the interests of bondholders.New “15 machine MTN001” default items with lead underwriters called periods bondholders meeting, listen to holder appeal, protecting the legal rights and interests of investors.

8, Shanghai pudong development bank announced, according to the above as the lead underwriter of the bond, the bank supervision issuer in accordance with the bill’s commitment to carry out the meeting content holders meeting reply, to protect investors’ legitimate rights and interests, and keep constant communication with holder.Dalian machine tool rating has fallen to

C in December

2016, dalian machine tool main body credit rating three ratings within two weeks.On December 2, joint credit announced the dalian machine tool main body changed from AA to AA – long-term credit rating;On December 9, joint credit decision to dalian machine tool main body changed from AA – to A long-term credit rating, and its credit rating watch list.On December 12, joint credit rating co., LTD., dalian machine tool main long-term credit rating from A to C.

joint credit that dalian machine tool heavy debt burden and unreasonable debt structure, monetary funds available is small, cash flow pressure, the normal operation of business relies heavily on external financing.At the end of September 2016, inventory and should collect payment 70% of the total current assets, account receivable aging longer;Short-term debt amounted to 11.9 billion yuan, the scale and the risk of several kinds of reimbursement.

actually dalian machine tool’s performance as early as in 2013 there has been a turning point, when the end of dalian machine tool operating income a 8.95% year-on-year decline, then three years respectively presents the decline of 1% to 3%;And at the end of the third quarter of 2016, dalian machine tool to the parent company shareholders net income more than 77.1682 million yuan only, fell nearly 20%.

and the accompanying, is dalian machine tool debt tight cash flow.The end of last year in the first three quarters of its financing activities cash flows and net increase in cash – – 624 million yuan and 848 million yuan respectively.

Press set safety standard requirements in Shanghai

Yesterday, the mechanical press safety use requirements in Shanghai.National security supervision bureau of policy and law department director Chen guang said, the safety requirements as a national mandatory standards, was launched in April this year.All enterprises must to press is equipped with safety protection device and emergency braking device, avoid the improper operation, such as to have been “hedge” finger work safety accidents.

, he said, the introduction of the mechanical press safety requirements after the national standard, law enforcement will also tend to, to not to investigate equipment of the enterprise of the reform of security.

the reporter understands, at present, Shanghai shengan brake manufacturing co., LTD., and other enterprises have started to provide the old machine tool retrofit installation services, prices ranging from $300 to $1000.

First 35500 tons of screw press operating domestic, took a key step

On June 11, wuxi turbine blade co., LTD., Shanghai electric group (WTB) allows the world class level of 35500 tons of screw press formally put into production.More than 100 Chinese and foreign energy and forging industry, aviation industry experts, gathered in the WTB, new factory allows witness this historic moment.Since then, WTB officially allows to enter high-end forging domains such as aerospace and nuclear power, its suppliers to become the world leaves and aviation parts suppliers took a key step.
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, China forging association, gold in the launching ceremony speech, said China is already the world’s superpower forging, but not forging press power.China will become stronger in the world in forging industry, technology introduced from abroad advanced equipment may be necessary, but the introduction is just a tool.On the basis of the introduction, digestion, absorption and innovation, developed with China’s independent brand equipment should be our goal.
,
, said gold WTB introduction allows high energy screw press is belong to the world the most advanced technical equipment of its kind, the tonnage of the largest a forging equipment, technology, high starting point, the service object is high-grade forgings.Good hardware, plus, enterprising and innovation on technology believe WTB will become allows the domestic first-class, internationally renowned high-end die forgings production suppliers.

to provide high-end equipment precision large die forgings,
,
gold that WTB imported 35000 tons of the screw press allows embodies the WTB correct positioning allows: “nuclear power is focused on the national strategy, service aviation”, for our country high-end technology and equipment, such as large aircraft, aircraft engine, steam turbine and gas turbine to provide quality precision large forging high technology content.
,
, President of Shanghai electric (group) corporation di-nan huang said, as members of the “8 + 1” world-class factory construction, one of the WTB, allows the conclusion 30 years in manufacturing professional success, on the basis of close to the national strategy, made to develop the field of air defence, forging and blade manufacture two professional development strategy, and put the “based on the core equipment, unique technology development, to build the core competitiveness” as a world-class factory construction and the strategic transformation of focus and focus.Introduce the press machine, one part is the core to realize its development strategy, this is an important milestone of WTB towards a world-class factory allows, is lit sustainable development power, create world-class brand engine, at the same time for China’s electric power equipment and aviation forging industry development has the vital significance.
,
, member of Chinese academy of sciences chun-xiao cao believes that there is an increasing demand of modern industry for large forgings, excellent aircraft and engine needs high quality of large forgings.Forgings of china-made large aircraft manufacturing in the future will develop towards two directions: a sophomore.Big is equipped with large forgings as far as possible, reduce the number of forgings and fasteners;Type 2 fine is nc forming, include precise control and precise control, namely every time the size of the forging to be precise, and forging forging properties should also be consistent every time.The press machine to promote refinement of the aviation industry in China and has a great contribution to bigness.
,
, the Chinese academy of engineering Liu Daxiang thinks, the aviation industry at the present stage in China’s short board is aeroengine, the press machine for aeroengine forging development in our country has played a huge role in promoting.

form two specialized common development model

WTB general manager allows YanJi is introduced, based on the response of the national energy strategy and aviation industry development, WTB through allows for in-depth analysis of the power station equipment and aviation forging industry, research, for the nuclear power energy and aviation military expansion of the forging of strategic considerations, start planning 3 – the construction of the screw press, in order to meet the aviation forgings, nuclear power large leaves and the market demand.Made at the same time, in the “blade specialization”, strive to development “to the aviation industry as the leading specialized forging manufacture” ability to form two new mode of specialization of common development, advanced construction focus, major equipment and key components of the core parts manufacturing capability, formed in the plant leaf and aviation forging industry indispensable core strengths.
,
, it is in this strategic thought, under the lead of WTB since 2007, allows successively organized by the power plant, aviation industry experts to participate in the strategic development of key equipment selection and expert consultation, forging technology development research activities for many times, more than 30 units of more than 60 scholars, experts, to participate in, to help the WTB constantly optimized, allows perfect strategic development planning, key equipment eventually chose SPK22400 SMSMeer company new type clutch screw press and the corresponding auxiliary equipment.
,
, the new press maximum force can achieve 35.5 billion cattle, in brief contact with the workpiece forming metal products, a huge blow to force the process combines the advantages of forging hammer and hydraulic press both is WTB implementation allows electric aircraft, aviation engine, webmaster leaves and high-performance special steel, titanium and nickel base superalloy class structure products are the ideal choice.
,
, compared with the traditional screw press, the use of new type clutch not only make the press forming energy increased significantly, still can reduce about 87% of the energy consumption, is worthy of the name “high-energy” equipment with high efficiency.Compared with the previous press and forging hammer, it can produce better metallurgical quality, organizational performance is more uniform, more accurate size of large forgings.SPK22400 clutch type spiral press with 3150 tons of free forging press, more than 8 meters gas rotary hearth furnace and large capacity electric furnace, making greatly ascend, WTB forging production capacity allows products to expand the production scope of services.Provide the flexibility to meet the field of nuclear power, gas turbine, aviation, aerospace, military industry development needs, and the unique needs of customers.