Jiao Chengrao, Chairman of Zhengzhou Coal Mining Machinery Group Co., Ltd. (ZMJ), Jia Hao, Vice Chairman and CEO of ZMJ and Chairman of ASIMCO, and Wang Bin President and CEO of ASIMCO, met with Ding Xiaoqiang, the Secretary of the CPC Yuncheng Municipal Party Committee as well other city leaders on February 6, 2021 to exchange their views about and reach a consensus on further promoting ASIMCO Technologies (Yuncheng) Auto Parts Park. Afterwards, they entered into an agreement on it.
Mr. Jiao said that ZMJ will focus its development strategy on the auto parts industry. ASIMCO has its new project built with an information-based and digitalized technologies and equipment at a high level, and environment-friendly production technique. Guided by the philosophy of “official production upon the completed construction”, ASIMCO will utilize all the possible factors of production and promote the early start of project construction so that the project can start official production as early as possible. ASIMCO will build a leading company that can set a good example to make new contributions to the high-quality development of Yuncheng, Shanxi Province during the Fourteenth Five-Year Plan. Mr. Ding and Mayor Chu extended their warm welcome to Mr. Jiao and other visiting leaders, and thanked ASIMCO for its long-term support for Yuncheng’s economic and social development.
The project budget totals 1.05 billion Yuan and the casting production line and intelligent casting processing line have the planned production capacity of 60,000 tons. The products mainly include the castings for cylinder blocks and heads of 10-15L diesel engines. The project will be planned as a whole and implemented on a step-by-step basis. Phase I involves an investment of about 700 million Yuan, and the casting production line with an annual output of 60,000 tons will achieve a sales income of around 600 million Yuan each year, and provide almost 600 jobs. Phase II involves an investment of about 350 million Yuan, and the intelligent machining production lines will be constructed as the supportive facilities.
