Harbin Electric, Inc. designs, develops and manufactures linear motors and special electric motors. With proprietary technology and core patents, the Company builds a wide array of customized linear motors and other special motor for a variety of applications and industries. The Company currently designs and supplies its motor products and systems to numerous end users throughout the Chinese domestic market, as well as, to other industrial OEM customers overseas. Industry applications for linear motors include oil field services, conveyor systems, factory automation, packaging equipment, as well as mass transportation systems. The Company is based in Harbin, China along with its wholly owned subsidiaries.
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muscleman 24-Sep-2011 10:06 PM
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Public
HRBN's loan is impossible to be closed (#12028)
24-Sep-2011 10:06 PM
My friend recently visited China, and found that the banks now are only lending to state owned companies. His home town has lots of non-state owned private business that are forced to close because the banks are refusing to lend to them anymore.
Right now China is rampant with business jumbo loans with annual interest of 60%. The non-state owned companies are forced to choose to either take these kinds of loans or liquidate.
HRBN is a non-state owned company, so it is impossible to obtain a loan of even a small amount, not to say $400 Million. That is just a joke. Given the past fraudulent loan history of the chairman, it is pretty clear to me that the deal will break up soon due to some random unexpected reasons.
Good luck to all longs who didn't do their home work.
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