ZHANGZHOU, China, Oct. 22, 2014 /PRNewswire/ -- China Zenix Auto
International Limited (NYSE: ZX) ("Zenix Auto" or "the Company"),
the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market
by sales volume, announced today that it is developing a new model
of aluminum wheel designed for the Yutong Bus Co., Ltd.'s
("Yutong") new energy bus.
Zenix Auto constructed one of the first aluminum wheel
production plants in China for
commercial vehicles and began offering aluminum wheels at the end
of 2013. As an industry leader in research and development, Zenix
owns a total of 85 patents in China. Zenix Auto's aluminum wheels are
expected to replace imported aluminum wheels and be an alternative
to current steel wheel models. Current production capacity for
aluminum wheels is 500,000 units.
Yutong Bus Co., Ltd is the largest and the most technologically
advanced manufacturer of large- and medium-sized buses in the
world. Their revenue for the first quarter of 2014 reached
RMB 4.4 billion. The Yutong new
energy bus plant is expected to have annual production capacity for
30,000 units upon completion, making it the world's largest
manufacturing facility of new energy buses.
Mr. Jianhui Lai, chairman and
chief executive officer, commented, "This is the first application
of Zenix's aluminum wheels on Yutong's new energy buses. We have
the leading research and development team in the Chinese wheel
industry, and we focus on generating innovative wheel designs to
meet or exceed our customers' needs. This project highlights the
confidence in our R&D capabilities to design superior products
by one of the world's largest and technologically advanced vehicle
manufacturers. With increasing demand for wheels that provide
greater safety and fuel efficiency, we expect our cutting edge
aluminum wheels to capture market share in the large Chinese
commercial vehicle market."
About China Zenix Auto International Limited
China Zenix Auto International Limited is the largest commercial
vehicle wheel manufacturer in China in both the aftermarket and OEM market
by sales volume. With a large intellectual property portfolio, the
Company offers more than 430 series of tubed steel wheels, tubeless
steel wheels, and off-road steel wheels in both the aftermarket and
OEM market in China and
internationally. The Company's customers include group members of a
number of large PRC commercial vehicle manufacturers, and it also
exports products to over 80 distributors in more than 30 countries
worldwide. With five large, strategically located manufacturing
facilities in multiple regions across China, the Company has an aggregate annual
production capacity of approximately 15.0 million units of steel
wheels as of June 30, 2014. For more
information, please visit: http://www.zenixauto.com/en.
Safe Harbor
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. The
Company may make written or oral forward-looking statements in its
periodic reports to the SEC, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees. Statements
that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding these risks is included in
our filings with the SEC. The Company does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law. All information provided in this
press release and in the attachments is as of the date of the press
release, and the Company undertakes no duty to update such
information, except as required under applicable
law.
For more information, please contact
Investor Contact:
Kevin Theiss
Grayling
Tel: +1-646-284-9409
Email: zx@grayling.com
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SOURCE China Zenix Auto International Limited