The large bearing production project of FAG Railway Bearing (Ningxia) Co., Ltd which was invested by Schaeffler Group , a Fortune 500 company from Germany , started construction in Yinchuan ETDZ on April 16th Attendance to the corner stone laying ceremony comprised officials of the ETDZ and Yinchuan municipality including Wang Zhengwei , Cui Bo , Liu Xiaobin , Qi Tongsheng , Sun Rongshan ,Hong Meixiang etc. and partners of Schaeffler Group , Mrs. Elizabeth Maria Schaeffler and Mr. George F.W. Schaeffler .
Schaeffler Group is a Fortune 500 company and the second largest bearing producer in the world , which has over 660 thousand employees , 180 branches and 85 factories across the globe , the annual sales of 2007 stood at 8.9 billion euros . FAG Railway Bearing£¨Ningxia) Co., Ltd is one of the wholly owned subsidiaries of Schaeffler in China . The plastic steel holder technology of railway bearing it ushered in has provided technical support to the railway speed acceleration in China. Yinchuan ETDZ is among the important production bases of the group in China and Asia Pacific region. With a total investment of 85 million euros, the project will comprise 3 large scale production plants covering an area of 62 thousand square meters, and be equipped with over 400 productions machines . The headquarters of Schaeffler will provide main production technologies and technological designs. After completion the project will engage in overhaul of large taper roller bearing, large spherical roller bearing, large cylindrical roller bearing and large breach ball bearing .
Mrs. Elizabeth Maria Schaeffler expressed in her address that the sound investment environment of Yinchuan ETDZ was suitable for the development of the company .Though it was the first time for her to come to Yinchuan , she was deeply impressed by the ardor ad hospitality of people here and she firmly believed that FAG will develop fast with the support of Yinchuan Municipal Government and the ETDZ . Wang Rugui , Mayor of Yinchuan on behalf of the CPC Committee of Yinchuan and the municipal government expressed the warm congratulation to the start of the project . He said that the start of FAG represented the railway bearing production scale and production-level of Ningxia are going to enter a new phase and will drive the development of the machinery manufacturing industry of the ETDZ , the whole city and even the whole autonomous region . He hoped that Schaeffler could seize the sound development momentum , adopting an international view and actively introducing in new equipment and technologies to build the project into a leading one with top-grade scale , quality, management and profit . He also urged all departments of Yinchuan ,adopting more flexible policies and providing better services , to propel the construction of the project to realize early completion and production to present a gift to the 50th anniversary of the founding of the autonomous region with outstanding achievements .
On the day of the ceremony , Chen Jianguo , Secretary of Party Committee of Ningxia Autonomous Region , Wang Zhengwei , President of Ningxia and officials of the ETDZ including Cui Bo, Wang Rugui , Li Zefeng etc met and held banquet for Mrs. Schaeffler and her colleagues .