Zhuhai friction material enterprise opens new factory
A new factory of Zhuhai Glory Friction Material Co recently broke ground in Doumen District's Fushan Industrial Park. Upon completion, the company will apply for the title of National Enterprise Technological Center and is expected to become one of the best friction material enterprises globally.
Located in the Longshan area, the 81.8-mu (5.45-hectare) new factory has floorage of 106,581 sqm and will boost investment of 800 million yuan ($115 million), stated Liu Yihui, chairman of Zhuhai Glory Friction Material.
The project includes laboratory buildings, warehouse centers, and production workshops for commercial vehicle disc brakes, passenger vehicle disc brakes, and intelligent disc brakes.
Doumen-Headquartered Glory Friction Material [Photo courtesy Zhuhai Media Group]
It will be built in two phases. The first phase is scheduled to be completed and put into operation in mid-2023, meeting up with the market demands while increasing the enterprise's revenue.
Phase II of the project is set to be completed in July 2025, and is estimated to bring in more than 960 million yuan ($138 million) to the enterprise, contribute more than 50 million yuan ($7 million) in tax revenue annually, and create over 500 jobs.
Zhuhai Glory Friction Material, established on Nov 11, 2002, has grown into a professional enterprise focusing on the R&D, production, sales and service of friction material. Its total assets have exceeded 600 million yuan ($86 million), including a large-scale modern production base.
Zhuhai Glory Friction Material made its debut with its products during the 2022 Automechanika Dubai, which ran in Dubai from Nov 22 and 24 as one of the largest professional auto parts exhibitions in the Middle East with strong influences.
The enterprise has also devoted great efforts to the independent R&D. Its R&D expenditure accounts for 5 to 6 percent of the enterprise's annual sales volume. Liu added that the sales volume for Zhuhai Glory Friction Material is estimated to reach around 800 million yuan ($115 million) by the end of 2022.