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Tri-Ring Group Corporation

Source: hubei.gov.cn 06/03/2016 05:06:25

Open European markets through mergers and acquisitions

In 2015, Wuhan Qdone Investment Co., Ltd entitled a shareholder of Carat Group, thereby becoming the first Hubei enterprise engaging in the field of high-end car modification.

WISCO and Tri-Ring Group Corporation have tasted the sweetness of mergers and acquisitions, through which, they mastered the high-end technologies and improved competitiveness in the world.

In 2013, WISCO took over the global business in laser welding of ThyssenKrupp (TK), an old well-known company in Germany, while its financial crisis. After two years of efforts, the company has occupied a market share of 42 per cent in Europe and America.

In the same year, the Xiangyang Auto Bearing Group Corporation, an operating unit under Tri-Ring Group Corporation, took over Poland's largest bearing enterprise KFLT and won the core technology in research and development and manufacturing of cars bearing, rapidly becoming supplier of the famous band Daimler.

In 2014, the Poland branch of Tri-Ring Group realized sales volume of 560 million yuan, profit grew by 52 percent year on year.