ZHEJIANG, China, October 3, 2011 /PRNewswire-Asia-FirstCall/ -- SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or "the Company"), a leading supplier of brake and control systems to the commercial vehicle industry, today announced that the Company won the golden award for the 2011 China Urban Bus Components "Top Ten Famous Brands" at the first China (Wuhan) International Bus Components and Maintenance Equipment Exhibition. This award acknowledges the innovation, safety and energy efficiency of SORL's bus components.
The "Top Ten" prizes were awarded to the products demonstrating substantial achievement in the areas of safety improvement, fuel conservation, emission reduction and alternative energy technology. A special committee was formed by senior executives from large municipal bus operators and major bus OEMs to evaluate the nominated products' functions and designs. The winners became the leading indicators of emerging technologies in the bus industry, and also attracted more OEMs to test these products in their new vehicle models. This award is an important breakthrough for SORL's products as the Company is making inroads into the bus OEMs' "shopping list" as well as potentially forming more strategic R&D partnerships with OEMs for new products.
The grand opening of the first China (Wuhan) International Bus Components and Bus Maintenance Equipment Exhibition was held at the Wuhan International Convention and Exhibition Center during September 13 to 17, 2011. Among the over 400 companies that participated in this exhibition were large Chinese bus manufacturers, well-known auto parts producers, bus equipment accessories and testing manufacturers, and bus maintenance tools and equipment manufacturers. The exhibition selected and awarded SORL the golden prize for the 2011 China Urban Bus Components "Top Ten Famous Brands."
Wang Hua-ping, vice president and chief engineer of SORL, commented: "We are very proud to win 2011 China Urban Bus Components 'Top Ten Famous Brands.' This award recognizes our improved product quality, technical innovation and resulting increased market share."
"Under the guidance and encouragement of the government's national industrial policies, Chinese bus and bus components for the large urban transportation industry have made great advances in technology and quality upgrades. SORL's first-in-class level of innovation and excellent product quality, have enabled us to continue to outperform our peers. We have achieved a nearly 90% growth rate in the Chinese bus market over the past year. We continue to provide customers with our award-winning air brake system technology solutions to address their changing needs," Mr. Wang concluded.
About SORL Auto Parts, Inc.
As a leading global supplier of brake and control systems to the commercial vehicle industry, SORL Auto Parts, Inc. ranked No. 1 in market share in China for the commercial vehicles brake system segment, 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 2,000 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
