Sinotruk to produce engineering machinery vehicle in 2011

(chinatrucks.com, Nov 3, 2010) Sinotruk has procured tooling, and technology and other mainly technology assets of Shanghai Huizhong, and Shanghai Huizhong is one of the subsidiaries of Shanghai Auto group. The mainly business of Shanghai Huizhong is including heavy truck and parts and components businesses. At the same time, Sinotruk has signed the cooperation agreement with Chengdu Wangpai group. Both parties will invest to set up Sinotruk Group Chengdu Wangpai Commercial Vehicle Company.

Furthermore, Sinotruk has invested 32,500,000 Euros and hold 80% shares. The JV Company will develop the full series commercial vehicles, including heavy truck, medium truck and light truck as well as mini truck. The JV Company will realize the capacities of 100,000 medium trucks, and heavy trucks, ＆ 300,000 light trucks and mini trucks by 2015in accordance with the agreement. The program with 100,000 medium trucks and heavy trucks will be initiated in 2011.

At the moment, many engineering machineries vehicles will be imported from overseas. Sinotruk has great potential to develop engineering machinery. The gross profits of inland engineering machineries will raised from 20% to 40% in accordance with the marketing people.

Views:0