ZHONGSHAN, China, Jan. 13, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited (NYSE: MY) ("Ming Yang" or the "Company"), a leading wind turbine manufacturer in China, today announced that it has successfully hosted its 2012 Ming Yang Wind Power Strategic Supply Chain Conference in Zhongshan, China between January 9 to January 13, 2012. A total of 276 domestic and international suppliers attended this conference. The conference covers all essential areas in the supply chain of manufacturing our 1.5MW wind turbine generators ("WTGs") and 2.5/3.0MW Super Compact Drive ("SCD") WTGs, including electrical and mechanical appliances, composite materials, chemicals and other components.
With a theme of "Collaboration, Communication, and Mutual-Benefit", Ming Yang aims to work together with its suppliers to further enhance its product quality, service and cost competitiveness of its wind turbines by pursuing the following objectives:
- To further enhance product quality and offer more responsive services through collaboration with suppliers and customers;
- To further strengthen management of production costs and manufacturing schedule through bulk purchasing;
- To enhance existing 1.5MW wind turbine family and localize the production of components of 2.5/3.0MW SCD WTGs through technology and process optimization;
- To reduce procurement costs through logistics, technology and process collaboration and by decreasing inventory level of suppliers through establishment of just-in-time delivery mechanism; and
- To realize mutual growth by enhancing collaboration and trust with suppliers.
"The supply chain conference helps to further enhance our cost competitiveness in the industry," said Mr. Yiguo Hao, Chief Operation Officer of Ming Yang. "By working closely with our suppliers, we are able to offer high quality and reliable products, prompt delivery and responsive services to our customers. Such cooperation with our suppliers will bring win-win results to our suppliers, our customers and ourselves. Such cooperation with our suppliers would also help Ming Yang maintain its leadership in the challenging and evolving industry by providing best-in-class products and services to its customers."
"Amidst a challenging macro and industry environment, it is essential to embrace strong relationships with our industry partners in the wind power supply chain," said Mr. Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "Our suppliers are our strategic partners, with whom we cooperate on the optimization of our 1.5MW WTGs and 2.5/3.0MW SCD WTGs. We are very pleased with the progress made on our continual cost reduction of wind turbine components. The supply chain conference reaffirms our commitment to maintain win-win relationships with our suppliers, to further enhance the product quality, maintain profitable growth and to pursue opportunities as a world-class wind power total solution provider."
About China Ming Yang Wind Power Group Limited China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading and fast-growing wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang produces advanced, highly adaptable wind turbines with high energy output and low energy production costs and provides customers with comprehensive post-sales services. Ming Yang cooperates with aerodynEnergiesysteme, one of the world's leading wind turbine design firms based in Germany, to develop wind turbines and share intellectual property rights. Ming Yang's key customers include the five largest state-owned power producers in China, with an aggregate installed capacity accounting for more than 50% of China's newly installed capacity in 2010. For further information, please visit the Company's website: www.mywind.com.cn
Safe Harbor Statement This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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," "target" and similar statements. Such statements are based upon management's current expectations, results of and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Ming Yang's control, which may cause Ming Yang's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Ming Yang's filings with the U.S. Securities and Exchange Commission. Ming Yang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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SOURCE China Ming Yang Wind Power Group Limited