ZHANGZHOU, China, July 21, 2016 /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, today announced it has entered into a formal strategic partnership agreement with Beijing Research Institute of Mechanical & Electrical Technology ("BRIMET").
Mr. Jianhui Lai, Zenix Auto's Chairman and Chief Executive Officer, and Mr. Fengshou Liang, the President of BRIMET, signed the agreement.
The focus of this partnership is to combine research and development ("R&D") resources from both parties to accelerate the development of next generation production technologies and techniques including enhanced automation and smart equipment. Both parties have begun the R&D and manufacturing collaboration in the areas of developing new forging process, heat treatments, and specialty equipment for steel and aluminum wheels.
BRIMET is a branch of the China Academy of Machinery Science and Technology under the State-Owned Asset Supervision and Administration Commission. It is a leading machinery technology research institute that specializes in the research of forging and stamping, heat treatment, and dies and mold tooling. BRIMET is a leading key national high-tech enterprise in the renowned National Torch Plan. BRIMERT has a technical staff of more than 300 experts, has developed more than 120 invention and utility model patents, and it has made important contributions to industrial technology progress in China.
Mr. Jianhui Lai, Zenix Auto's Chairman and Chief Executive Officer, commented, "We are pleased to be a partner with BRIMET and this collaboration is an acknowledgment of Zenix Auto's technical capabilities and R&D expertise. Through the potential of these new technologies, we anticipate we will provide improved wheel quality and performance to our customers and improved operations for our shareholders."
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. The Company offers more than 715 series of aluminum wheels, tubed steel wheels, tubeless steel wheels, and off-road steel wheels in the aftermarket and OEM markets in China and internationally. The Company's customers include large PRC commercial vehicle manufacturers, and it also exports products to over 80 distributors in more than 32 countries worldwide. With six large, strategically located manufacturing facilities in multiple regions across China, the Company has a designed annual production capacity of approximately 15.5 million units of steel and aluminum wheels as of March 31, 2016. For more information, please visit: 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