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Gabriel electrical and hydraulic Group R & D to be an intellectual framework for circuit breakers

    Baili Electric Hydraulic Group controlling shareholder intends to jointly develop new products and intelligent framework for circuit breakers, the total project investment of 2,140 million yuan, the company invested 1,200 million;booster cables hydraulic Group invested 9.4 million yuan. Meanwhile, the company plans to sell 3,260 million to the hydraulic Group idle equipment.

    Bailey Electric (600468) March 23 announcement that the company intends to and controlling shareholder of Tianjin Hydraulic Machinery (Group) Co., Ltd. joint venture to develop new products - intelligent framework for circuit breakers. Total project investment of 2,140 million yuan, the company invested 1,200 million; battery clip hydraulic Group invested 9.4 million yuan. The two sides are invested in cash, according to investment ratio of the right to enjoy the benefits of the product sales.

    Intelligent Frame circuit breaker with high performance: a substantial increase Icw, to achieve Icu = Ics = Icw, tow rope to achieve the full range of selective protection; small: Basic to achieve the smallest form factor similar products; can communicate: with a variety of advanced open field bus system connection; function: functional diversity of intelligent controller, with energy management, ratchet tie dowm regional chains, fault current waveform recording and display; high reliability: To improve the resistance to electromagnetic interference and reduce the ability of the environment such as temperature characteristics.

    The research and development projects, the involvement of the hydraulic Group R & D funding increase for the project will help speed up the project process and thus speed up the upgrading the level of technical innovation capability and product profitability.

    Meanwhile, the company intends to sell the company part of the hydraulic Group of fixed assets - machinery and equipment. Machinery and equipment to be transferred assets in the transaction price target valuation date (February 28, 2010), by a security assessment of the qualifications issued by the assessed value basis (net asset valuation of RMB 3,261.20 million), by mutual agreement decided to 3,260 million as the transaction price.

    The equipment to be transferred mainly by the hydraulic production equipment, production tools. Part of the use of idle state, the other part is rented to the Parker company uses (lease period to April 2010). In view of the company since 2005 to phase out production of the field of hydraulic components, and leased to Parker's lease expires near the end, the company intends to sell the equipment. This transaction is consistent with main business transformation requirements, and revitalized the company's idle assets, enhance operational efficiency of assets.

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