[Asia Economy Reporter Jang Hyowon] CS Bearing is showing strong performance. The company is gaining attention as a partner of Vestas, the world's number one wind turbine manufacturer from Denmark, which announced an investment of $300 million (approximately 370 billion KRW) in Korea.
As of 9:07 AM on the 19th, CS Bearing is trading at 9,270 KRW, up 3.24% compared to the previous day.
According to the Presidential Office, President Yoon Seok-ryeol, who is visiting Switzerland, attended the "Vestas Investment Declaration Ceremony" held in Davos, Switzerland on the 18th (local time). Vestas is the global leader in wind turbines, having supplied over 160 gigawatts (GW) of wind turbines worldwide.
At this ceremony, Henrik Andersen, CEO of Vestas, declared an investment of $300 million to Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy, and announced the relocation of the Asia-Pacific regional headquarters to Korea.
Vestas plans to establish a large-scale turbine component manufacturing plant in Korea to produce key wind turbine equipment domestically and export to the Asia-Pacific region. Additionally, by relocating the Asia-Pacific headquarters, Korea will be positioned as a core innovation hub in the Asia-Pacific region.
CS Bearing is a company engaged in manufacturing bearings for wind power. Its main products are pitch bearings, which connect and support blades and rotors, and yaw bearings, which are one of the critical components in the yaw system of horizontal-axis wind turbines.
CS Bearing has been supplying wind power bearings to global wind turbine manufacturer GE for over 14 years and is currently diversifying its customer base by developing various models and conducting approval processes through close collaboration with major global wind turbine manufacturers such as Vestas and Siemens.
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