Happy Forgings Ltd announced on Monday that it will invest Rs 650 crore to set up a state-of-the-art manufacturing facility aimed at catering to the non-automotive industrial sector. The company’s board has approved the capital investment, which will be used to develop advanced forging capabilities. Happy Forgings Ltd (HFL) specializes in manufacturing complex, safety-critical, heavy-forged, and high-precision machined components. HFL’s Managing Director, Ashish Garg, stated that this substantial investment will enhance the company’s ability to produce heavyweight components, helping it expand its presence in the industrial sector. “This initiative supports our plan to tap into a market with limited suppliers, focusing on precision-engineered, large-sized components. We expect this investment to drive our growth, increase profitability, a...

Forge Resources Group (FRG) is pleased to announce the acquisition of Oklahoma Forge Inc, Located in Tulsa, Oklahoma. Oklahoma Forge Inc. was founded in 1957. Today Oklahoma Forge Inc. capabilities include open die forging services, particularly for rolled rings, discs, and pot die forgings. Oklahoma Forge Inc. will continue to operate under the new moniker Oklahoma Forge Inc, a Division of Forge Resources Group.  Oklahoma Forge is the 8th FRG plant location. FRG is committed to providing a marketplace position as the premier metal solutions provider for our customers. We are thrilled with the opportunity that Oklahoma Forge Inc. provides for in this regard....

Expand the strategic layout of the entire channel and seek cooperation with source factories to accelerate the process of decentralization. Through digital means, we accurately analyze the needs of overseas customers and provide extended services such as product selection and design ideas, firmly "tying" their hearts.

The integration of information technology and industrial technology has significantly improved the digitalization level of China's manufacturing industry. By 2022, the CNC rate of key processes and the penetration rate of digital R&D design tools in industrial enterprises across the country will reach 58.6% and 77%, respectively. The development index of the industrial Internet platform reached 251, a year-on-year increase of 17%, and the growth rate exceeded 15% for four consecutive years....

According to statistics, the current quality inspection sharing platform for the bearing industry chain can provide quality inspection services for 27 major items, including clearance detection, inner and outer diameter detection, smoke testing, and more than 100 minor items. Among them, more than 200 testing services are provided to small and medium-sized enterprises every year. The emergence of this sharing model has made cooperation between enterprises closer, reduced production costs, and improved product quality....

Recently, data released by the tax department shows that the manufacturing industry is a sector with a large scale of tax reduction and fee reduction. Since 2018, the cumulative increase in tax reduction, fee reduction, and deferred tax refunds has exceeded 3.5 trillion yuan. According to statistical data, by 2022, the tax burden of manufacturing enterprises will decrease by 23.3% compared to 2017, with the equipment manufacturing industry experiencing a significant decrease of 29.5% in tax burden....