ZHEJIANG, China, November 29, 2011 /PRNewswire-Asia-FirstCall/ -- SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or "the Company"), a leading supplier of brake and control systems to the global commercial vehicle industry, announced today that SORL Europe, a subsidiary of SORL established in July 2011, will hold a celebration for the opening of its regional headquarters office at "La Maison de l'Automobile", Brussels, Belgium, on December 14, 2011.
The following members of the senior management team of SORL and its subsidiaries will attend:
Mr. Xiao Ping Zhang, Chairman and CEO of the Company;
Mr. Bao Jian Tao, COO of the Company;
Ms. Jin Rui Yu, VP International Market and Production;
Mr. Jean Francois Barth, Managing Director SORL International Holding, and General Manager of SORL Europe;
Mr. Hamid Hamri, Marketing Director of SORL;
Mr. Craig Jackson, Director SORL International Holding; and
Mr. Ben Chen, VP Finance and Corporate Secretary of SORL.
Mr. Jean Francois Barth, General Manager of SORL Europe, commented, "The opening of SORL Europe is another key to SORL achieving its global strategy. The European market is potentially a major source of revenue growth as the European brake market size is estimated to be approximately $5 billion in annual sales. Europe also has a rich pool of automotive engineers to help SORL continue to reach its engineering goals of being the first to develop innovative products providing new solutions."
Mr. Xiaoping Zhang, Chairman and CEO of SORL commented, "Our current customers in Europe appreciate the stronger marketing and distribution we're developing in the region. Both SORL and our customers will benefit from our closer relationships in Europe. We expect our expanded European operations will provide the opportunity to build our business in Europe and more customers will find our awarding-winning products to be a cost-effective solution for their braking needs in this safety-related area. Additionally, we expect to become a larger supplier in the worldwide brake market as SORL extends its distribution and marketing network. We are confident that our broader global reach will create long-term shareholder value."
About SORL Auto Parts, Inc.
As a global tier one supplier of brake and control systems to the commercial vehicle industry, SORL Auto Parts, Inc. ranked No. 1 for market share in the segment for commercial vehicles brake system, such as 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 65 categories with over 2000 specifications in brake system and others. The Company has four authorized international sales centers in UAE, India, the United States and Europe. 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.
Contact Information
Ben Chen
VP Finance & Corporate Secretary
+86 577 6581 7721
Email: ben@sorl.com.cn
Kevin Theiss
Grayling
+1 646 284 9409
Email: kevin.theiss@grayling.com
