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German Subsidiary Contributes Half the Income of Shanghai Prime Machinery
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2017-09-11
Shanghai Prime Machinery (SPM) acquired Nedschroef in 2014 which by now has contributed half the income of SPM. SPM President said he would introduce car orders from China for Nedschroef and expand the import market of automotive parts in China.
He said China's automotive market has exceeded the total of Europe and North America, which could bring room for growth to Nedschroef. Through Nedschroef , he expects to expand in China's import market of automotive parts. So far SPM's income from Nedschroef has reached RMB 2.5 billion, which is over half of SPM's total revenue at RMB4.3 billion. So far Nedschroef's income has gone up by 7.5%.
