PR Newswire 17-Feb-2017 6:00 AM
SINGAPORE, Feb. 17, 2017 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today the entry into of a strategic partnership agreement ("Strategic Agreement") with Zoomlion Heavy Industry Science & Technology Co., Ltd ("Zoomlion"), a leading manufacturer of high-tech equipment for the engineering and agricultural industries.
In addition to Zoomlion, the Wuhu government and Y&C Engine Co., Ltd, a joint venture entity of GYMCL based in Wuhu, Anhui Province, are also signatories to the Strategic Agreement. As the leader in powertrain systems for on- and off-road applications, GYMCL together with Y&C Engine will develop and produce six-cylinder medium- and heavy-duty engines for Zoomlion's agricultural equipment. The production line is divided into three phases for a gradual build up of its capacity.
Mr.Weng Ming Hoh, President of China Yuchai, commented, "Our partnership will provide another growth avenue to gain further market share and solidify our leadership in the agricultural machinery business. We are developing and producing engines designed specifically for use in Zoomlion's agricultural equipment to provide users with higher power and improved performance to enhance their capabilities."
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 visithttp://www.cyilimited.com.
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