including petrochemical equipment clutch bearing

In recent years , the Northwest bearing liabilities has been running at a high state . As of December 31, 2013 , the company 's gearing ratio was 73.86% , current ratio was 0.98 , quick ratio was 0.66 . Higher debt levels , making certain the Northwest bearing debt risk . Recent Northwest bearing non-public offering plan , will allow the company to reduce debt levels , optimize the capital structure possible.
Northwest Slewing bearing   release of " non-public offering of A shares plan" and a major shareholder pagoda Petrochemical released " acquisition report " shows that the price the company will be 4.81 yuan / share issuance stone pagoda directed to 124,740,125 shares, raising total funds 60,000.00 million. Net of issuance costs , giving priority to investment projects of high-end bearings 40,000.00 million surplus does not exceed 20,000.00 million used to supplement working capital.
The company said , assuming that the non-public issue of the successful completion of the program , the largest shareholder after 600 million fund in place , not only the company's asset -liability ratio will significantly reduce the current ratio and quick ratio will be significantly improved, can effectively improve the ability to resist risks , as the company's long-term steady development and lay a solid high speed bearing foundation. At the same time , raised $ 400 million in gold investments for the construction of the bearing industry, "second Five Year Plan" key recommendation of products, including petrochemical equipment bearings, bearing metallurgical equipment , mining machinery and equipment bearing as the representative of large bearings to high-end motor bearings are precision bearings representative to subway cars , as represented Bahn rail vehicle bearing . Implementation of the project can significantly improve the company's profitability, and achieved good social benefits.