On April 16th 2011 the official ceremony for the Joint venture (JV) with HNCC Luoyang LYC bearing Co. Ltd. and Japan’s NTN Bearing Corporation – NTN and LYC (Luoyang) Precision Bearing Co. Ltd. took place. The photograph above shows the ceremony of the laying of the foundation stone; this ceremony took place in Luoyang. This JV marks the world’s most technically advanced car bearing hub and needle roller bearing production project that either party have entered into. The project covers a manufacturing/production area of 150000 square meters; the total investment from both sides is in excess of 174 million dollars. During the first phase of this project the investment will be 93.5 million dollars. The project will engage the world most advanced bearing manufacturing technology the equipment will produce high quality second-generation hub bearing units in addition to needle bearings for gearbox applications. The total manufacturing/production capacity is calculated at 50 million sets per year. The markets for these products will primarily be aimed at domestic; however within the second half of 2012 a portion of the facilities production (automobile motorcycle) will be allocated to the overseas markets.

Other News:
NTN and LYC (Luoyang) Precision Bearing Co. Ltd. took place.
LYC establishes a Joint Venture with the Bearing manufacture NTN
LYC attended the China import and export fair in Guangzhou
LYC took part in Shanghai Bearing and Equipment Exhibition
LYC parent company HNCC ranked the 446th among the 2011 world top 500 enterprises
The EPBS (Earth Pressure Balance Shield) bearing test equipment under the “863 ministry project” has been successfull
LYC passed US GE company ‘s check out
LYC has again been awarded the head of the National Bearing Enterprise for the sixth year in succession.