An interior view of the completed first phase of the Citizen-Xinjing high-end equipment manufacturing industrial park, which is located in Zibo city. [Photo/zbnews.net]
Japanese group Citizen Machinery Co Ltd – a world-class precision computer numerical control, or CNC, machine tool manufacturer with operations based in Zibo since 2011 – is jointly developing its biggest production complex with Shandong Xinjing Machinery Co Ltd in a new high-end equipment manufacturing industrial park in the city, located East China's Shandong province.
The project has been the only foreign investment project approved by the Japan Machine Tool Builders' Association in the past three years.
Xinjing Machinery owns the rights to cutting-edge and ultra-high precision CNC sheet metal manufacturing technology, which is paving the way for the Zibo project.
The first phase of the park, which has been completed, covers a 164 mu (10.93 hectares) site and a plant floor space of 8 ha, with a total investment of 500 million yuan ($73.72 million). The facility produces around 4,000 precision CNC machine tools annually, as well as 4,000 units of intelligent processing equipment and precision machine tools sheet metal.
The project has 94 independent intellectual property rights, including the original patented technology for LFV low-frequency vibration cutting. The technology – the first of its kind in China – is expected to improve machining efficiency by 20 times and is able to control repeatable positioning accuracy within three microns.
"We have broken through the bottleneck that plagued the industry and are providing international cutting-edge technologies and one-stop solutions to top companies in China, including Huawei Technologies Co Ltd and BYD Company Ltd," said Xinjing Machinery president Yang Bing.
The market share of Citizen Machinery's precision CNC machine tools ranks number one China, with the project's products already being sent to the country's 31 provinces. Xinjing Machinery, meanwhile, supplies equipment to leading enterprises such as DMG Mori Co Ltd and Brother Industries Ltd.
Last year the first phase of the Zibo high-end equipment manufacturing industrial park achieved sales of 1.3 billion yuan, with the profits and taxes of 200 million yuan and it is projected to become a new growth engine of the intelligent equipment industry in the city.
On completion, the output value, profits and taxes of the project is projected to double, increasing its global market share.
