August 17 afternoon, Xiangtan Economic Development Zone signed a cooperation agreement with the Schaeffler Group in Shanghai, with a total investment of 1.5 billion Schaeffler Xiangtan Xiangtan base was officially settled through the open area. Zhang Jianfei, vice governor of Hunan Province attended. Commission by letter Xiechao Ying, director of Hunan Province, Xiangtan Municipal Committee, Municipal People's Congress Chairman Cao Jiongfang, Xiangtan City Mayor talk Wensheng and Provincial Development and Reform Commission, Department of Commerce relevant leaders witnessed the signing.

On the signing ceremony, Xiangtan Economic Development Zone Party committee secretary Sun Yinsheng Schaeffler Greater China and COO Wei Chun Teng (Guenther WERNER) representing the two sides signed the investment agreement.

Mayor Zhang said Hunan Province are trying to write "China 2025" chapter of Hunan, vigorously promote the manufacturing province construction. Schaeffler German industry as the main initiator of 4.0, advanced technology, scientific research strength. We believe that through joint efforts, will be able to make good achievements in the field of Intelligent Manufacturing.

Schaeffler Greater China Automotive President Yang Hanbing introduced, settled through the open area in Xiangtan Xiangtan Schaeffler base a total area of about 300 acres, a total investment of 1.5 billion, plans to put into operation at the end of 2018, will become benchmarking base Schaeffler investment in China. Schaeffler Xiangtan base main products include automobile engine drive system components with significant energy saving effect, can enhance driving comfort and reduce vibration transmission and chassis components as well as various types of precision bearings, primarily serving the European and American systems , Japan and South Korea, the major domestic brands of twelve automotive OEMs and automotive suppliers. Currently, Schaeffler has been preparing for the establishment of training centers and production centers in Xiangtan prepared by the open area for workers and technical personnel training. Future, planning two plants, logistics centers and training building is also scheduled to start.

Schaeffler Group's global board members, Schaeffler Greater China CEO Zhang Yilin said that based on the Chinese market and confidence in the development of Hunan, in the study of many cities and parks after Schaeffler final decision in Xiangtan Economic Development Zone invest and build factories. Xiangtan Economic Development Zone in the west close to the Schaeffler such as customer, Chengdu, Chongqing, customers and the South, where factories Schaeffler will further optimize production layout in the whole of China. "When all the members of Greater China Management Board had access through the open area of Xiangtan, Hunan for efficient service, Xiangtan and Xiangtan impressed by the open area, and further strengthened our confidence in investing." Zhang Yilin said.

Schaeffler Group is one of the main initiators of the German Industry 4.0 Schaeffler Schaeffler Greater China Xiangtan base is the fourth production base, Schaeffler is a global industrial layout in the latest part. Schaeffler Group will build a base of Xiangtan Schaeffler Schaeffler Group, the world's first "factory of the future." "Factory of the Future" with intelligent, digital, efficient, environmentally friendly and efficient characteristics, and has a lean manufacturing capacity and improve self-learning ability.

Caojiong Fang said Schaeffler Xiangtan settled through the open area, not only bringing new products to Xiangtan, new businesses, but also brought a new spirit, new ideas, new development model. Xiangtan City will provide quality service, and business to work together to protect the "factory of the future" to give sound and rapid development in Xiangtan.