SINGAPORE, Jan. 9, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that the Company's main subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has won a competitive tender for the supply of a total of 635 units of National V natural gas and National VI diesel engines from Beijing Bafangda Express Bus Services Co., Ltd. ("Bafangda"), a subsidiary of the Beijing Public Transportation Group.
The contract is for 587 units of National V natural gas engines and 48 units of National VI diesel engines. The breakdown of natural gas engines is 237 units of engine model YC6L260N-50, 108 units of model YC6MK320N-50 and 242 units of model YC6K1336N-50. This contract represents the first purchase of YC6K13N engines in the Chinese bus market.
GYMCL is the largest natural gas engine supplier to Bafangda in tenders called in 2012 and 2014 supplying a total of 1,700 engines representing 35% of the total amount required under the 2 tenders. This is GYMCL's second award through a competitive bidding process by the Beijing Public Transportation Group for National V natural gas engines since 2012, and the first award for the purchase of National VI diesel engines. The first large-scale applications of GYMCL's National III, IV and V natural gas and National VI products all began with open tender purchases by the Beijing Public Transportation Group, representing the municipal bus service in Beijing.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "By winning this competitive bid, we further demonstrate the breadth, high performance and advanced emission technology of our engines. We are the only domestic engine company to be awarded a contract to supply the environmentally friendly National VI diesel engine in China."
"Our advanced engines continue to be purchased in the most important public transportation market in China, the Beijing public transit market. As a leader in Chinese emission control technology, our engines have attained global emission standards. Superior emission technologies are an important purchasing consideration as China's many municipalities seek to reduce pollution and improve air quality." Mr. Hoh concluded.
About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, the Company distributes its diesel engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in China with high-quality products and reliable after-sales support. In 2013, GYMCL sold 500,756 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com.
Safe Harbor Statement
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "target", "optimistic", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. The Company specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.
For more information, please contact:
Email: [email protected]
SOURCE China Yuchai International Limited