A Chinese company has developed the world's third free forging hydraulic press capable of exerting 15,000 tons of pressure on iron.

The machine will enable the firm to produce large forged pieces and enhance capability in manufacturing major equipment for the electricity, metallurgy, shipping and other industries.

The machine, developed by the China First Heavy Industries (CFHI) with full intellectual property rights, completed a trial operation on Friday.

Only two other hydraulic presses capable of exerting 15,000 tons of pressure already exist, one in Russia and the other in Romania.

The machine is expected to add to 70,000 tons of production to CFHI each year, with a value of 400 million yuan (US$50 million).

Vice Premier Zeng Peiyan sent a congratulatory letter to the CFHI Friday, encouraging the company to develop as world-class manufacturing base.

(Xinhua News Agency December 31, 2006)