World Precision Machinery wins $4.5m from China auto part manufacturers

Mainboard-listed World Precision Machinery, the manufacturer of precision stamping equipment in China, says it recently won a contract worth RMB 22.1 million ($4.5 million) from three major local auto part manufacturers.

The three companies, located in Jiangsu province, have placed orders that comprised largely of 10 units of high performance and high tonnage stamping machines.

Selling for RMB 0.5 million to RMB 4.5 million, the high precision and tonnage stamping machines will help improve the quality and performance of these auto parts manufactured, says the company.