FRIEDRICHSHAFEN, Germany and
SINGAPORE, Feb. 19, 2016 /PRNewswire/ -- MTU
Friedrichshafen GmbH ("MTU"), a subsidiary of Rolls-Royce Power
Systems, and China Yuchai International Limited's main operating
subsidiary, Guangxi Yuchai Machinery Company Ltd. ("GYMCL"), have
today signed an agreement to set up a 50/50 joint venture for the
production, under licence from MTU, of MTU diesel engines in
China. Each party will invest
75 million RMB (around 10.5 million Euro) in the joint venture.
The joint venture will be based at GYMCL's primary manufacturing
facilities in Yulin City in Guangxi
Province, south China and is expected to begin production in
2017. The joint venture will produce MTU Series 4000 diesel engines
compliant with China Tier 3 emission
standards with power outputs ranging from 1400 to 3490 kW,
primarily for the Chinese off-highway market, in particular for
power generation and oil & gas applications.
The joint venture will open up new growth opportunities for both
partners, particularly in China
and Asia. The joint venture will
enable better access to the Chinese market for the MTU Series 4000
diesel engines, via the extensive sales and service network
operated by GYMCL. GYMCL will, as a result of the joint venture, be
able to offer its customers technologically advanced engines that
have a proven record on the global market. The joint venture
engines will be marketed by GYMCL and MTU Suzhou within China and
by MTU and its subsidiaries exclusively outside China. From 2020,
the sales territory of GYMCL will be extended to selected countries
in South East Asia such as
Vietnam, Thailand and Malaysia. After a ramp-up phase of 3 to 5
years, the scope of the joint venture might (subject to further
discussion) be extended to research and development activities as
well as potentially direct sales from the joint venture to the
customer.
The establishment of the joint venture is subject to the
fulfilment of certain conditions including but not limited to
approvals by the relevant authorities.
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 2015, GYMCL sold
364,567 engines and is recognized as a leading manufacturer and
distributor of engines in China.
For more information, please visit http://www.cyilimited.com.
About Rolls-Royce Holdings plc
- Rolls-Royce's vision is to be the market-leader in high
performance power systems where our engineering expertise, global
reach and deep industry knowledge deliver outstanding customer
relationships and solutions. We operate across five businesses:
Civil Aerospace, Defence Aerospace, Marine, Nuclear and Power
Systems.
- Rolls-Royce Power Systems is headquartered in Friedrichshafen
in southern Germany and employs
around 10,000 people. The product portfolio includes MTU-brand
high-speed engines and propulsion systems for ships, power
generation, heavy land, rail and defence vehicles and for the oil
and gas industry. Under the MTU Onsite Energy brand, the company
markets diesel gensets for emergency, base load and peak load
applications as well as cogeneration plants using gas engines for
the combined generation of heat and power. Bergen medium-speed
engines power ships and power generation applications. L'Orange
completes the portfolio with fuel injection systems for large
engines.
- Rolls-Royce has customers in more than 120 countries,
comprising more than 400 airlines and leasing customers, 160 armed
forces, 4,000 marine customers including 70 navies, and more than
5,000 power and nuclear customers.
- We have three common themes across all our businesses:
- Investing in and developing engineering excellence
- Driving a manufacturing and supply chain transformation which
will embed operational excellence in lean, lower-cost facilities
and processes
- Leveraging our installed base, product knowledge and engineering
capabilities to provide customers with outstanding service through
which we can capture aftermarket value long into the
future.
- Annual underlying revenue was £13.4 billion in 2015, around
half of which came from the provision of aftermarket services. The
firm and announced order book stood at £76.4 billion at the end of
2015.
- In 2015, Rolls-Royce invested £1.2 billion on research and
development. We also support a global network of 31 University
Technology Centres, which position Rolls-Royce engineers at the
forefront of scientific research.
- Rolls-Royce employs over 50,000 people in more than 46
countries. Nearly 15,700 of these are engineers.
- The Group has a strong commitment to apprentice and graduate
recruitment and to further developing employee skills. In 2015 we
employed 228 graduates and 277 apprentices through our worldwide
training programmes.
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SOURCE China Yuchai International Limited