Monday 2011-08-08  10:18

August 8 – Jiangsu Yawei Machine Tool (002559) plans to invest in a research center and technology updates for a total of 252 million yuan, reports yicai.com, citing a company filing.

The investment also includes a 56.2 million yuan factory in charge of precision rolling, bending, leveling, and shearing.
The technology updates include a numerical control bending machine that will cost 125 million yuan and will be able to produce 550 machines per year. The research center costs 70.2 million yuan.

Benefiting from higher orders, the firm recorded a 31.6-percent year-on-year increase in net profits for the first half of 2011 to 52.11 million yuan. Sales revenues jumped 44.69 percent year-on-year to 405 million yuan.