Gaofeng Petroleum Machinery hits 100 million yuan output value over last 11 months
A worker on the production line at Guizhou Gaofeng Petroleum Machinery Co Ltd. [Photo by Liu Xiancheng/gazqb.com]
Guizhou Gaofeng Petroleum Machinery Co Ltd, which makes petroleum drill equipment, announced that its annual output value hit 130 million yuan ($18.7 million) in 2018.
"This year, we have produced products valued at a total of 100 million yuan," said Zhou Bo, deputy secretary of the Party Committee of Guizhou Gaofeng Petroleum Machinery Co.Ltd in November this year.
"The equipment will be exported to Iran, Russia and South Africa. Export orders from these countries account for more than half of the company's export volume," Zhou continued. "In addition, jar and shock absorbers produced by the company occupy more than eighty percent of the local market share."
Guizhou Gaofeng Petroleum Machinery Co Ltd was established in 1971. More than forty products, including its paraffin engine, have been honored with national science and technology awards. Some of these products have even passed the NS-1 system certification, a global manufacturing certificate for drilling pipe.