Date: 2013-07-31

Expansion Program of Tieli Bearing Co.,Ltd

Tieli Bearing Co.,Ltd planned a general expansion program. Investments on this program will be made up of three parts: RMB19million from the company itself; RMB15million from bank loan and the rest RMB20million from foreign fund attraction.

Predictively, this expansion will increase the company's annual bearing output by 870 thousand sets; annual income by RMB112 million and bring 236 new jobs.

Tieli Bearing Plant was founded in 1970. In August 2002, they signed a cooperation contract with HRB Group, then formed the Tieli Bearing Co.,Ltd which can be regarded as a subsidiary of HRB Group.

Currently, the first phase program has been under construction. The host of these program is Development & Transformation Commission in Yichun city, Heilongjiang province. The host is still finding some foreign investors. Their contact ways : Tel 86 458 3878738 Fax 86 458 3878734

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