- Reflects SORL's Research and Development Capabilities -
ZHEJIANG, China, July 26 /PRNewswire-Asia/ -- SORL Auto Parts, Inc. (Nasdaq: SORL) ("SORL" or "The Company"), a leading manufacturer and distributor of commercial vehicle air brake systems as well as related auto parts in China, today announced that its principal operating subsidiary, Ruian Auto Parts Co., Ltd. ("Ruian Auto"), was awarded five patents in the second quarter ended June 30, 2010. Of special note is an invention patent received from the United States Patent and Trademark Office. Ruian Auto was granted a total of 10 patents in the first half of 2010, and has developed a portfolio of 32 patents since it was established.
Ruian Auto's new U.S. invention patent, for its air brake air dryer product, improves air dryer quality through the use of advanced production processes. Air dryers are an integral part of an air brake system and are one of the leading components produced by SORL. They are used to remove moisture from an air brake system's compressed air. Air brake systems are applicable to a number of different commercial vehicles such as trucks and buses. SORL's patented technology generates greater cost efficiencies and product safety to increase the product's competitiveness for OEM and dealer customers.
Mr. Baojian Tao, Chief Operating Officer of SORL Auto Parts, commented, "With a total of 32 patents awarded and another 43 pending patent applications, our research and engineering teams continue to focus on developing value-added products with highly advanced functionality and increased safety features for drivers. Our dedication to research and development has strengthened our product mix expansion. Our research and development activity, and our patents, reflect our determination to become an industry leader in terms of technology and cost efficiencies. As the market leader in China, seeking to expand into the global air brake market, we look forward to further leveraging our strong R&D capability and customer relationships, for the mutual benefit of our Company and our customers. "
SORL Auto Parts, Inc.
As China's leading manufacturer and distributor of automotive air brake systems and related auto parts, SORL Auto Parts, Inc. is ranked first in market share in the commercial vehicle segment, which includes trucks and buses. The Company distributes products both within China and internationally under the SORL trademark. SORL is listed among the top 100 auto component suppliers in China, with a product range that includes 40 categories with over 1,000 specifications in air brake systems, air controlling systems and other related components. The Company has four authorized international sales centers in Australia, UAE, India and the United States. SORL is working to establish a broader global sales network. For more information, please visit http://www.sorl.cn .
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "will", "believes", "expects" or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov .
For more information, please contact:
Ben Chen
Director of Investor Relations
Tel: +86-577-6581-7721
Email: ben@sorl.com.cn
Kevin Theiss
Grayling
Tel: +1-646-284-9409
Email: kevin.theiss@grayling.com
