(Reporter Kelly) 12 On the morning of February 24th, the world-famous Japanese bearing manufacturer NTN Co., Ltd. and Luoyang Bearing Group Co., Ltd. formally signed a cooperation agreement in Zhengzhou. The two sides will jointly invest 600 million yuan in four projects, including speed-up railway bearings, new automobile bearings, precision bearings for major equipment and screw rods for precision machine tools. In this Sino-Japanese joint venture, Luozhou Company contributed with existing assets, and Japan NTN Company contributed 20 million US dollars in cash. After the implementation of the project, it is estimated that the annual sales revenue will reach 654.38+0.2 billion yuan, double that before the joint venture. Five years after the joint venture, the sales of the four projects will reach 2.5 billion yuan. At the same time, NTN Japan will make full use of its international marketing network to ensure that
30% of the products are exported. Zhang Yixiang, deputy director of the Standing Committee of the Provincial People's Congress, and Ston Zhang, vice chairman of the Provincial Political Consultative Conference, attended the signing ceremony. ② 10