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HRB Signed Cooperation Agreement with Aviation Industry Corporation of China

In the morning on Apr. 29th, Aviation Industry Corporation of China (abbr. AVIC) and Harbin Municipal Government have held the agreement signing ceremony at Shangri-La Hotel in Harbin about the cooperation on establishing bearing industrial base, which indicated that the establishment of AVIC Harbin Bearing Co., Ltd (abbr. AVIC HRB) that Harbin Bearing Manufacturing Co., Ltd. (abbr. HRB) and AVIC have planed for almost three years to build up high end bearing industrial base in China has entered into the substantial period.

It is learned that Aviation Industry Corporation of China(abbr. AVIC) is the extra large central enterprise group managed directly by China State-owned Assets Supervision and Administration Commission of the State Council (abbr. SASAC), which manages 200 member enterprises with the staff of about 400,000. In 2009, AVIC has been selected as one of the Top 500 Enterprises in the world at the 426th place.

Harbin Bearing Manufacturing Co., Ltd.(abbr. HRB) is one of the first batch of backbone enterprises in machinery industry established during the First Five-Year Plan period inChina. Since the establishment of the company for 60 years, HRB has created many ¡°First¡± in Chinese bearing industry. Its aerospace bearings have supported various devices of aerospace crafts such as Shenzhou V crafts and Shenzhou VI crafts, etc. The company has made great contribution to the aerospace industry inChina. For many years, HRB has cultivated and sent many technicians for more than 150 bearing enterprises and established the research and development institution independently. It is one of the backbone enterprises in the development of Chinese bearing industry.

The new AVIC Harbin Bearing Co., Ltd (abbr. AVIC HRB) was established jointly by four subsidiaries of AVIC including AVIC Dongan Engine (Group) Co., Ltd., AVIC Chengdu Engine Science & Technology Co., Ltd., AVIC Shenyang Aero-Engine (Group) Co., Ltd., AVIC Xi''''''''''''''''an Aero-Engine (Group) Co., Ltd. and Harbin Bearing Manufacturing Co., Ltd.(abbr. HRB). The company takes up an area of 350,000 s.q.m. with the total investment of 1 billion yuan. The company mainly designs, develops, produces, repairs and sells aerospace bearings, railway bearings, high end precision bearings and extra large wind power bearings, etc. and the bearings technology derivative products as well as carries out the after-sale service.