ZHANGZHOU, China, November 28, 2011 /PRNewswire-Asia/ -- 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 sale volume, today announced that it has won a contract from Sany Heavy Industries Co., Ltd. ("Sany") to supply wheels for its mobile construction equipment.
Sany is the world leader in the production of pump trucks and is China's largest producer of truck-mounted concrete pumps, and hydraulic rollers. Sany's headquarters is located in the Changsha Economic Technological Development Zone, and the company is involved in all aspects of construction machinery manufacturing, with products as diversified as construction equipment, road construction equipment and cranes, etc. It produces equipment in 25 categories with more than 120 models including motor graders, asphalt pavers, crane trucks and the above mentioned products.
Zenix Auto will provide service and aftermarket support to Sany's customers through its network of more than 5,300 distributors throughout China. No other details were disclosed.
Sany has over 100 marketing and service centers in China, with 56 networked warehouses for complete service. Sany products have been exported to more than 110 countries including India and the US. In 2011, Sany Heavy Industry was the first Chinese construction machinery company to qualify as one of the FT Global 500.
Mr. Jianhui Lai, Chairman and CEO of China Zenix, stated, "Our selection by Sany Heavy Industries highlights our manufacturing, product development and R&D capabilities. As a large and leading construction equipment company, their demands are stringent and we have proven our wheels can meet these challenging requirements. This contract will add to our penetration of the important off-highway segment of the large vehicle market in China, the largest vehicle market in the world. Sany is the latest among a series of leading vehicle companies that are using our premium wheels that meet or exceed standard performance and durabilility requirements."
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 230 series of tubed steel wheels, tubeless steel wheels, and off-road steel wheels in both the aftermarket and OEM market in China and internationally. Zenix Auto's customers include group members of a number of large PRC commercial vehicle manufacturers, and it also exports products to over 70 distributors in 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 12.5 million units of steel wheels as of December 31, 2010. For more information, please visit: http://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. Among other things, the revenue guidance and quotations from management in this announcement, as well as Zenix Auto's strategic and operational plans, contain forward-looking statements. Zenix Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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 Zenix Auto'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, including but not limited to the following: our growth strategies; our future business development, including our ability to successfully develop new tubeless steel wheel products and the planned introduction of aluminum wheels; our ability to expand our distribution network; overall growth in the aftermarket and OEM market in China and elsewhere, which depends on a number of factors beyond our control including economic growth rates and vehicle sales; and changes in our revenues and certain cost or expense items as a percentage of our revenues. Further information regarding these and other risks is included in our filings with the United States Securities and Exchange Commission, including our final prospectus dated May 11, 2011. Zenix Auto 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 Zenix Auto undertakes no duty to update such information, except as required under applicable law.
For more information, please contact
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