ZHANGZHOU, China, Jan. 5, 2015 /PRNewswire/ -- China Zenix Auto International Limited (NYSE: ZX) ("Zenix Auto" or "the Company"), the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume, announced today that it has signed a contract to supply wheel products to FAW Group Corporation ("FAW").
Zenix Auto will supply wheels to a number of FAW Jiefang's medium- and heavy-duty truck models.
FAW is a global leader in the vehicle manufacturing industry and sells products in over 70 countries. It is a diversified maker of quality light-, medium-, and heavy-duty trucks, automobiles, municipal buses and luxury tourist coaches, custom bus chassis, and mini-vehicles with annual sales in excess of 1 million vehicles worldwide. FAW Group ranks 111th in the Fortune Global 500 list with revenues of approximately $75.0 billion. FAW Jiefang is one of the largest manufacturers of heavy-duty trucks in China.
FAW joins Zenix Auto's more than 80 automotive OEM customers in China including companies such as SAIC-IVECO Hongyan Commercial Vehicle, Beiqi Foton Motor, Baotou Bei Ben Heavy-Duty Truck, Zhengzhou Yutong, Dongfeng Motor, Anhui Jianghuai Automobile Group and China National Heavy Duty Truck Group.
Zenix Auto will provide service and aftermarket support to FAW Jiefang's customers through its network of more than 4,700 distributors throughout China.
Mr. Jianhui Lai, chairman and chief executive officer, commented, "We are pleased to become an official suppler to one of China's most prestigious and largest vehicle manufacturers. We were selected after a thorough review of our products, research and development capabilities, manufacturing expertise and a trial production. As a leading truck manufacturer in China, FAW's requirements are strict and the selection of our wheels is an acknowledgement of our superior performance and durability. We anticipate growing orders from FAW to strengthen our sales and operations."
"Our sole focus is to continue building our customer base and commercial vehicle wheel operations for the future," Mr. Lai concluded.
About China Zenix Auto International Limited
China Zenix Auto International Limited is the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume. With a large intellectual property portfolio, the Company offers more than 430 series of tubed steel wheels, tubeless steel wheels, and off-road steel wheels in both the aftermarket and OEM market in China and internationally. The Company's customers include group members of a number of large PRC commercial vehicle manufacturers, and it also exports products to over 80 distributors in more than 30 countries worldwide. With five large, strategically located manufacturing facilities in multiple regions across China, the Company has an aggregate annual production capacity of approximately 15.0 million units of steel wheels as of September 30,2014. For more information, please visit: http://www.zenixauto.com/en.
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. The Company may make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these risks is included in our filings with the SEC. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.
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SOURCE China Zenix Auto International Limited