Shenyang Machine Tool: 2.22 million euros to develop CNC machine tools

Shenyang Machine Tool Announcement, in order to master the development and manufacturing technology of the world's most advanced level of CNC machine tools, thereby further improving the company's profitability, on November 26, the company signed a development agreement with Shenyang Machine Tool (Group) Germany Heath Co., Ltd. "The company and the German company Heath jointly developed a series of products such as vertical boring machine tools, and the research and development costs provided by Shenyang Machine Tools totaled 2,223,600 euros.

According to the announcement, the machine tools developed this time include the VERTITURN series of vertical boring machine tools, the high-speed double-swing universal milling head series, the high-torque double-swing universal milling head series, and the horizontal turning and milling center of the HTC model. Heath is a leading manufacturer of major CNC machine tools and masters the cutting-edge technology of heavy-duty machine tools. From the current development trend of the machine tool industry, major CNC machine tools will become a new profit growth point for Shenyang machine tools.

The company has a registered capital of 15 million euros and is a wholly-owned subsidiary of Shenji Group. Heath's operating income in 2008 was 528,867,600 yuan and net profit was 6,132,600 yuan. As of December 2008, the company's net assets were 1,79,765,000 yuan.


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