At present, Tiangong Tools Co., Ltd., located in Zhenjiang, Jiangsu Province, is in the process of establishing FAW Tiangong Tool Manufacturing Co., Ltd. with Changchun FAW.
It is understood that the total investment of the project is 100 million yuan, mainly producing high-grade complex tool products, and giving priority to the special tools and tool steel materials of Changchun FAW Automobile. Tiangong will import about US$20 million of advanced tool manufacturing equipment from the United States this year to expand the production of high-quality automotive cutting tools and aerospace knives to meet the demand for precision tooling products.
It is understood that the total investment of the project is 100 million yuan, mainly producing high-grade complex tool products, and giving priority to the special tools and tool steel materials of Changchun FAW Automobile. Tiangong will import about US$20 million of advanced tool manufacturing equipment from the United States this year to expand the production of high-quality automotive cutting tools and aerospace knives to meet the demand for precision tooling products.
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