The Land Bank co-ordinated the signing ceremony of the NT $11.1 billion joint loan project of Gao Feng Industrial Company.

The Land Bank co-ordinated the signing ceremony of the NT $11.1 billion joint loan project of Gao Feng Industrial Company.

(Taiwan Business Daily News) Land Bank co-sponsored the joint loan case of Gao Feng Industrial Co., Ltd. with a total amount of NT $1.1 billion, which has been successfully completed. A signing ceremony was held on May 27, 2014. on behalf of the bank group, Gao Mingxian, general manager of Land Bank, signed a joint credit contract with Shen Guorong, chairman of Gaofeng Industrial Co., Ltd.

The funds of this joint loan case are used by Gao Feng Industry to repay the loans of financial institutions, build factories and its ancillary facilities, purchase machinery and equipment and its ancillary equipment, and enrich the operating working capital, raising a total amount of NT $1.1 billion over a five-year period, the Land Bank acts as the co-loan co-ordinated host bank. With the joint participation of Yushan Commercial Bank, first Commercial Bank, Changhua Commercial Bank, South China Commercial Bank, Taiwan Industrial Bank, Kaohsiung Bank and Antai Commercial Bank, the loan oversubscribed by the participating banks reached NT $1.75 billion, with a loan proportion of 160%. This shows the recognition and affirmation of the long-term pragmatic operation of Gaofeng Industrial Co., Ltd.

Founded in 2068, Gaofeng Industry is a major domestic machine tool manufacturer. Over the years, it has continuously innovated R & D and devoted itself to quality and technology improvement, adopting modular design and computer-aided design and manufacturing to meet the diversified needs of customers. from the input, the process to the finished product layer by layer control to produce the highest quality products, the quality is comparable to the European, American and Japanese standards. Under the leadership of Chairman Shen Guorong, Gaofeng Industry has actively adjusted its product structure. In addition to the main production of vertical and horizontal processing machines, it has been further incorporated into gantry processing machines and high-speed processing machines, with an annual revenue of more than 2 billion yuan. In view of the strong demand for large machines, it has invested in the expansion of Zhongke plant and the purchase of machinery and equipment to meet the growing production capacity demand. In addition to continuously investing in core technologies to develop new products, the future development plan will actively grasp the layout of the mainland market, develop emerging markets, increase sales bases to expand market share, and form strategic alliances with agents to expand the market and sales channels of special-purpose aircraft products. The future operating performance is expected to be brilliant.