Published:
Guangxi Yuchai Machinery Establishes Large Casting Facility
SINGAPORE, July 18 /Xinhua-PRNewswire-FirstCall/ -- China Yuchai
International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), the
leading manufacturer and distributor of diesel engines inChina, today
announced that its subsidiary, Guangxi Yuchai Machinery Limited Company
("GYMCL"), has begun the first construction phase of the state-of-the-art
Yuchai Casting Foundry ("YCF").
This casting facility is located in the Yuchai Industrial Park Potong
District with a total planned area of 1,800 acres and 6 casting production
lines to be constructed, with a total investment of RMB 960 million. YCF is
being established to manufacture high-quality and high-strength cylinder heads
and cylinder blocks for GYMCL's wide array of diesel engines from light duty
to heavy duty. Phase one of the YCF, upon completion, will include 1,000 acres
and 3 casting production lines. The first casting production line is expected
to be constructed and tested for trial production by December 2009, with a
total engine parts production capacity for 160,000 mid-sized engines. The
second and third lines will be completed for trial production by the end of
2010 and 2012, respectively.
The new YCF facility will introduce advanced Chinese domestic equipment
combined with high-grade imported equipment for key procedures to achieve high
efficiency, high quality, low manufacturing cost, environmentally friendly and
stable production. These state-of-the-art, highly automated production lines
will help shorten the manufacturing process and improve workers' productivity.
More importantly, the YCF facility is designed to conserve energy during
production.
YCF phase one will provide local employment for over 1,000 employees while
upgrading GYMCL's product quality and lowering overall product cost.
Management expects that YCF phase one, upon completion, will produce enough
casting products to fuel annual growth of 15%-30% for the following few years.
About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi Yuchai
Machinery Company Limited ("Yuchai"), engages in the manufacture, assembly,
and sale of a wide array of light-duty, medium-sized and heavy-duty diesel
engines for construction equipment, trucks, buses, and cars inChina. Yuchai
also produces diesel power generators, which are primarily used in the
construction and mining industries. With over 30 regional sales offices and
460 authorized customer service centers, the Company distributes its diesel
engines directly to auto OEMs and retailers and provides maintenance and
retrofitting services throughoutChina. Founded in 1951, Yuchai has
established a reputable brand name, strong research & development team and
significant market share inChina with high-quality products and reliable
after-sales support. In 2007, Yuchai sold approximately 383,000 diesel engines
and was consistently ranked No. 1 in unit sales by the China Association of
Automobile Manufacturers. For more information, please visit
http://www.hlcorp.com.sg/cyi .
Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. The words "believe,"
"expect," "anticipate," "project," "targets," "optimistic," "intend," "aim,"
"will" or similar expressions are intended to identify forward-looking
statements. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements. These forward-
looking statements are based on current expectations or beliefs, including,
but not limited to, statements concerning the Company's operations, financial
performance and condition. For this purpose, statements that are not
statements of historical fact may be deemed to be forward-looking statements.
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, including those discussed in the Company's reports filed
with the Securities and Exchange Commission from time to time. The Company
specifically disclaims any obligation to update the forward-looking
information in the future.
For more information, please contact:
Kevin Theiss / Dixon Chen
Grayling Global
Tel: +1-646-284-9409
Email: ktheiss@hfgcg.com
dchen@hfgcg.com
SOURCE China Yuchai International Limited
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