SINGAPORE, June 22, 2017 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that engines produced by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") have won new orders for the supply of bus engines to Myanmar and Saudi Arabia.
GYMCL received an initial order for 2,000 of its YC6G260N heavy-duty natural gas engines to power buses to be used in Rangoon's upgraded public transportation system. A further 1000 engines are expected to be ordered during the second phase of the upgrade. The YC6G260N engine has a displacement of 7.8 liters and is compliant with Euro V emission standards. GYMCL is the exclusive engine provider due to its reputation for excellent product quality and outstanding services.
Rangoon is an economic hub as well as Myanmar's largest city with a population of nearly 4.4 million. This order coincides with the Chinese government's "One Belt One Road" initiative to increase economic cooperation between China and European and Asian countries.
GYMCL also won an order for the supply of 600 YC6MK engines to equip the Ankai A9 high-end buses for the Saudi Arabian market. The YC6MK heavy-duty engine has a displacement of 10.3 liters and is designed to propel larger buses. It is compliant with Euro IV and Euro V emission standards. GYMCL has an approximate 66% of the market share of the Saudi Arabian bus engine market.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "We continue to see increased penetration of the overseas markets due to our extensive engine portfolio meeting the needs of a wide variety of customers."
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 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 2016, GYMCL sold 320,424 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", "targets", "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:
Kevin Theiss
Phone: +1 646-726-6511
Email: cyd@bluefocus.com
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