China Zenix Auto Wins Supply Contract With Cargotec
- New Patented Steel Rolling Process Improves Wheel Performance -
ZHANGZHOU, China, Jan. 27, 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 advanced tubeless steel wheels to the Cargotec (Shanghai) Trading Co, Ltd. in 2015.
Zenix Auto will supply its tubeless steel wheels to Cargotec Shanghai's heavy-duty terminal tractors. These wheels are produced with Zenix Auto's new patented steel rolling process. The Company's advanced tubeless steel wheels can carry heavier loads and are less susceptible to deformation and damage compared with traditionally rolled steel wheels.
Cargotec provides end-to-end cargo handling solutions, with integrated cargo and load handling solutions and services for the maritime transportation and offshore industries. It provides container and cargo handling equipment and related services, automation and integration solutions as well as Navis terminal operating systems (TOS), Bromma spreaders and Siwertell bulk handling systems. Cargotec possesses the market's widest product range and global service network for cargo and load handling needs. No single competitor matches the breadth of Cargotec's products, automation and service offerings, or its global presence.
The Port of Shanghai is situated at the middle of the 18,000km-long Chinese coastline, where the Yangtse River flows into the sea. It is China's largest comprehensive port and one of the country's most important gateways for foreign trade.
Mr. Jianhui Lai, chairman and chief executive officer, commented, "This contract win demonstrates the effectiveness of our research and development to generate new customers and sales. Shanghai is one of the busiest ports in the world and an important transit point for the export and import of products in China. Our wheels are improving the efficiency of moving goods through this busy port. As we continue to improve the durability, weight and overall quality of our wheels, we strengthen current customer relationships and expect to attract additional new customers. "
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 510 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.
Safe Harbor
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.
For more information, please contact
Investor Contact:
Kevin Theiss
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Email: [email protected]
SOURCE China Zenix Auto International Limited
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