SINGAPORE, April 16, 2018 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that its subsidiary MTU Yuchai Power Co. Ltd. ("MTU Yuchai Power") has commenced production of the MTU S4000 series engines in its new facility in Yulin City, China.
GYMCL's Chairman Yan Ping and Rolls-Royce Power System Co., Ltd.'s Chief Executive Officer, Andreas Schell, attended the ceremony and unveiled the first unit of the MTU S4000 series off the new production line. Founded in 2017, the S4000 engine production line was recently completed and the first engine was successfully released from the joint venture. This inaugural product signifies that not only is the batch production capability completed, but also that this line of high-end products is ready for entering into the high horsepower domestic Chinese and export markets.
The highly anticipated S4000 series MTU engines are primarily targeting power generation and oil and gas sectors in China, and is expected to address the growing demand for domestically produced diesel engines with a power level on or above 1400 kW.
Formed by MTU Friedrichshafen GmbH ("MTU") and GYMCL through a 50/50 joint venture, MTU Yuchai Power is expected to leverage the joint venture partners' combined expertise in technology, production, marketing, and aftermarket services to produce the world's leading high-end, high-speed, high-power engines. MTU, a subsidiary of Rolls-Royce Power System Co., Ltd., has a standing track record of over 100 years in manufacturing off-road, high-horsepower engines.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "As one of the largest independent engine suppliers to leading OEMs in China, we always look for ways to expand our product offerings. We expect the S4000 series to not only provide our customers with the latest high horsepower engine technologies along with best-in-class quality and services, but it will also enable us to establish an excellent market position with a world-class organization. This joint venture will open up new growth opportunities for both partners, especially in China and to extend to other Asian countries through ongoing development. We look forward to building MTU Yuchai Power into a leader in its targeted markets and expanding our relationship with Rolls Royce Power Systems in the future."
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 2017, GYMCL sold 367,097 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", "confident that", "continue to", "predict", "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 including, but not limited to, statements concerning the Company's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. 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 such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China including those discussed in the Company's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date they are made and 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
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Email: cyd@bluefocus.com
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