ZHEJIANG, China, Jan. 10, 2012 /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, today
announced that its subsidiary, Ruili Group Ruian Auto Parts Co.,
Ltd., was awarded a "Class A Supplier" designation from Zoomlion
Mobile Crane Branch ("Zoomlion") and it will supply approximately
70% of the brake systems and related components to Zoomlion's crane
truck fleet in 2012. SORL is the only brake system supplier to
achieve the Class A Supplier title by Zoomlion. Zoomlion Mobile
Crane Branch is a division of Changsha Zoomlion Heavy Industry
Science & Technology Development Co., Ltd., China's leading manufacturer of construction
machinery equipment.
As a Class A Supplier of Zoomlion, SORL will receive large
volume orders, preferential payment terms, and strategic
cooperation. In 2011, SORL started to supply Zoomlion crane trucks
with braking air processing unit (APU) technology. As the
relationship progressed and evolved, SORL moved to provide
Zoomlion's crane trucks with the entire brake system and related
components to upgrade the braking technology and safety.
Mr. Tao Baojian, Chief Operating Officer of SORL, commented, "We
are very pleased to win another vote of confidence from Zoomlion, a
leading construction vehicle OEM in China. This award acknowledges our excellent
product quality and customer service, and our advanced management
skills. Winning this title not only enables our current braking
products to further penetrate Zoomlion's product portfolio, but
also increases the chance of our upcoming new products to enter
Zoomlion's component shopping list. We continue to expand our
presence in the construction and engineering vehicle market."
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 in China. 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
SOURCE SORL Auto Parts, Inc.