(Yicai Global) Oct. 24 -- Chinese mechanical parts and auto components maker Jiangsu Lixing General Steel Ball has announced its intention to build a precision steel ball production base in Mexico.

JGSB recently signed a cooperation agreement with American Industries Group, which helps companies set up in Mexico, it said yesterday. AIG will assist with implementing the project, minimizing operational risks, and in return the Chinese firm will recommend businesses in its industrial chain to AIG for possible partnerships in the central American country.

The new factory will allow the steel ball supplier to improve its service for existing clients and increase its share of the overseas market, JGSB noted, adding that it will also deepen the cooperation with multinational bearings makers in the Americas. 

Based in Rugao, Jiangsu province, JGSB did not specify further details, such as the investment amount, annual plant capacity, product specifications, and potential customers.  

JGSB produces over 5 billion steel balls yearly. The products, which range from 3 millimeters to 82.55 mm in diameter, are used in cars, wind turbines, and other machines, according to the company’s official website.

JGSB shares [SHE: 300421] ended little changed today at CNY13.54 (USD1.87).

Editor: Martin Kadiev