By Bearing Manufacturer>Bearing News>Germany IBO Gmbh to Set Up New Factory in Luoyang
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On Aug 4, the groundbreaking ceremony for IBO Gmbh's new facility was held in the New District of Luoyang City, Henan Province.
With the total investment of 10 million US dollars, the new facility will mainly focus on the production of high precision bearings like non-standard bearings and wind power bearings when it comes on line. The project aims to set up the most advanced non-standard bearing manufacturing and testing center in China. The new facility will become IBO's logistic center in China to supply Chinese custmers directly.
The annual production value is expected to hit RMB 100 million. The export and domestic sales will respectively hit 10 million US dollars and RMB 30 million when this new facility comes into production.