Qingdao New Century Tool Co., Ltd. is an enterprise of exclusive ownership founded by YG-1 Company Limited (Korea) and registered at Qingdao Free Trade Zone with a registered capital of USD 12 million. YG-1 Co., Ltd. is a cut tool manufacturer listed in Korea, which exports its products to more than 70 countries in the world and has an annual export turnover of USD 100 million.
Qingdao New Century Tool Co., Ltd. covers an area of 73,260 square meters and owns a drill factory, which was completed on May 1st, 2005 with a building area of 4,600 square meters and the production capacity of 1 million drills per month, and a milling cutter with capacity of 0.3 million milling cutters per month, which was set up and put into production on July 1st, 2003.
On December 20th, 2005, the second phase factory building occupying an area of 11,220 square meters was finished, at the same time, the production line for the screw tap, non-standard production line, re-grinding production line, coat production line and complex logistics centre were added to it.
In addition, the company has equipped with a wide range of facilities for personnel¨s welfare, such as audio-visual training room, lobby, sauna, hairdressing room, fitness center, reading room and internet bar, and so on. Qingdao New Century Tool Co., Ltd. will become the largest synthesis enterprise that produces cut tools in the world after the completion of the second phase of factory building.
Cut tools for industrial purposes are indispensable materials of consumption used in automobile, electronic, mould and also the pillar industry that promotes the development of precision machinery processing. Our company is the only large-scale, professional producer of cut tools established with foreign capital in Shandong Province.
We will work hard to achieve the aims that the annual turnover of export exceeds USD 50 million In 3 years, and reaches USD 100 million in five years.