With registered capital of 322.69 million yuan, Freet Company is composed of seven branches and six holding subsidiaries. Among the 1,763 employees, 38 have academic title of senior rank, 157 have academic title of middle rank, and 625 have college diplomas. The company possesses 600 sets of equipment, of which 18 are professional production lines and 70 testing equipment. The company covers an area of 97.3 hectares and is comprised of four industrial zones.
The No. 1 Industrial Zone is located in the Linzi-based Qilu Chemical Industry Park and covers an area of 24.5 hectares. 100,000 ton tubing and 300,000 meter insulated tubing are available here a year. The production capacity of this zone is 700 million yuan.
The No. 2 Industrial Zone is located in the Shengli Industrial Zone in Dongying District, Dongying City. Covering an area of 35.1 hectares, it is involved in the production of ERW steel pipes, casings and top drilling drives, with an annual production of 120,000 ton, 120,000 ton and 60 sets respectively. The production capacity of this zone hits 2 billion yuan.
The No. 3 Industrial Zone is located at 203 Nanyi Road, Dongying District, Dongying City, where the headquarters of the company lies. Covering an area of 30.7 hectares, this zone is involved in the production of pumping units, sucker rods, special purpose vehicles refitting for oilfield and composite pipes, with an annual production of 1600 sets, 5 million meter, 400 units and 4 million meter respectively. The production capacity of this zone is 800 million yuan.
The No. 4 Industrial Zone is located in Dongying Economic Development Zone. Covering an area of 7.0 hectares, it is involved in the production of large-sized hoisting equipment. The production capacity of this zone is 100 million yuan.