ZHEJIANG, China, Sept. 24, 2012 /PRNewswire-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 it has won a new
contract from Shaanxi Auto Group Co., Ltd. ("Shaanxi Auto") to
supply 90% of the re-card spring brake chambers for the Delong
F3000 heavy-duty truck models.
The Delong F3000 series is one of the heavy-duty truck models
from Shaanxi Auto and it possesses the versatility to be used in
logistics, heavy loads, construction and bridge building, ore
transportation, municipal sanitation and the transportation of
dangerous goods. The new F3000 provides superior quality for
its customers.
The Shaanxi Auto Group Co., Ltd. was founded in 1968 and is
headquartered in Xi'an,
Shanxi Province, with total assets
of RMB 29.2 billion and 33,000 total
employees. In 2011, Shaanxi Auto produced and sold 120,000 units of
various vehicles, with sales revenue of RMB
31 billion. Its heavy-duty truck sales volume reached
100,000 units and it exported 10,000 vehicles. It is mainly engaged
in the development, production and sales of commercial vehicles and
auto parts, and it is the largest new energy commercial vehicle
production enterprise. It is China's leading manufacturer of natural gas
heavy-duty trucks with more than a 50% market share.
Ms. Jinrui Yu, SORL's Chief
Operating Officer, commented, "We are very pleased that our
relationship with Shaanxi Auto has made substantial progress.
Shaanxi Auto is one of China's top
five heavy-duty truck manufacturers. This new relationship is a
further recognition of our products' high quality, advanced
technology, and excellent service to the OEM market. Even as we
expand globally, we continue to further increase our market share
in China. We will continue to
strengthen our innovation and product quality control to achieve
more extensive cooperation with our customers and provide them with
even more cost-effective products."
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. is the
market leader for commercial vehicles brake systems, 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 systems 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 the Company's proposed
discussions related to its business or growth strategy, which are
subject to change. Such information is based upon expectations of
the Company's management that were reasonable when made, but may
prove to be incorrect. All of such assumptions are inherently
subject to uncertainties and contingencies beyond the Company's
control and upon assumptions with respect to future business
decisions, which are subject to change. The Company does not
undertake to update the forward-looking statements contained in
this press release. For additional information regarding known
material factors that could cause the Company's results to differ
from its projected results, please see its filings with the SEC,
including its Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K. 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
Raymond Lin
+86-139-6777-6556
+86-577-6581-7721
Email: ljf@sorl.com.cn
Phyllis Huang
+86-151-6770-5972
+86-577-6581-7721
Email: Phyllis@sorl.com.cn
Kevin Theiss
Grayling
+1-646-284-9409
Email: kevin.theiss@grayling.com
SOURCE SORL Auto Parts, Inc.