ASIMCO Technologies Limited Business Report FY ended Dec. 2018
-On August 18, 2018, Zhengzhou Coal Mining Machinery Group Co., Ltd. announced that they obtained Henan State-owned Assets Supervision and Administration Commission's consensus regarding a plan to issue A-shares (not publicly issued) to raise up to Chinese yuan (CNY) 1.8 billion funds including share issuing fees. The company is going to allocate the fund to the five projects of the 2nd-phase construction of the ASIMCO Industrial Park, the construction of an intelligent plant of engine parts, the creation of a new research and development center that handles new energy vehicle drive motors and two other projects. The total investment in the intelligent plant project is expected to be CNY 257 million and the company plans to prepare CNY 230 million through the fund-raising plan. This project will be handled by ASIMCO International Casting Co., Ltd. (Shanxi), one of the second-grade subsidiaries of Zhengzhou Coal Mining Machinery Group. It’ll take place in Yuncheng Jiangxian Economic Development Zone and include the construction of intelligent production lines that can produce 20,000 units of large engine cylinder blocks and 20,000 large engine cylinder heads. (From a release on September 11, 2018)
-On December 30, 2016, ASIMCO Tianwei Fuel System (Tianjin) Co., Ltd. held a cornerstone laying ceremony for a high-pressure common rail fuel injection system plant in Wuqing, Tianjin. The Tianjin facility is a wholly owned subsidiary of ASIMCO Tianwei Fuel Injection Equipment (Beijing) Co., Ltd. and was established in January 2015. The plant is scheduled to be completed in September 2017 and begin operating in the first quarter of 2018 with an annual production capacity of 300,000 sets. The subsidiary intends to increase its capacity in stages up to 500,000 sets in the future. (From news releases issued by multiple sources on January 12, 2017)
Pass the Test
-ASIMCO (Tianjin) Automotive Parts Co., Ltd. said on February 20, 2018, that the company had passed an assessment for potential suppliers of BorgWarner Automotive Components (Ningbo) Co., Ltd. and become a certified supplier. (From a press release on February 20, 2017)
-In 2018, awards won by the subsidiaries of ASIMCO Technologies are as shown in the table below
|ASIMCO Shuanghuan Piston Ring
|Hualing Xingma Automobile
|R&D Contribution Award
|Excellent Supplier Award
|Quality Contribution Award
|Best Quality Continuous Improvement Award
|SAIC Fiat Hongyan
|Excellent Quality Award
|ASIMCO International Casting (Shanxi)
Best Supplier Award
-The company's R&D team has 450 staff.
-The company has 5 independent research and development centers.
-ASIMCO Tianwei Fuel Injection Equipment (Beijing) Co., Ltd. has been developing diesel common rail system.
|Area of Cooperation
|Nature of Relationship
|Asimco Braking Technologies (Langfang) Co., Ltd.
|Compressors for air brakes
|Asimco International Casting Co., Ltd. (Shanxi)
|Large iron castings (i.e. Engine blocks, Cylinder heads)
-ASIMCO Shuanghuan Piston Ring Co., Ltd. (Yizheng), a subsidiary of ASIMCO Technologies Limited, announced that its Physical Vapor Deposition (PVD) multilayer hard-coating technology for piston rings has obtained a European patent. The technology, which has already received a Chinese patent for innovation, is expected to enhance the company's competitiveness in the European and the U.S. market as well. (From a press release on December 22, 2016)
-ASIMCO Shuanghuan Piston Ring Co., Ltd. (Yizheng), a subsidiary of ASIMCO Technologies, announced that its multilayer, multi-element composite hard PVD coating technology for piston rings has obtained a Chinese patent for invention. The technology uses multi-arc ion vacuum coating to form evaporated PVD layers on steel or cast iron piston rings. PVD coated piston rings achieve lower friction coefficient and improved wear resistance. (From a press release on September 19, 2016)