Weichai Power '08 export revenue rises 30.3%

Weichai Power Co. Ltd., a major Chinese maker of high-speed heavy-duty diesel engines, achieved $120 million in export revenue last year, up 30.3% from 2007, and meanwhile Weichai product exports increased by 41.15% year on year, both growth rates reaching the record high, sina.com said.

Amid the financial crisis, the Weichai Power's conventional markets have shown strong demand and boosted the exports of Weichai engines. At the same time, the company has also explored the emerging markets for its exports. These markets have helped tide the major Chinese engine maker over the economic depression.

In 2008, Weichai Power saw its profits of exports to Russia rise by 30.6% year on year, South Africa by 58%, and the Chilean free market by 10%.

Weichai Power Co. Ltd. builds high-speed, heavy-duty diesel engines and is one of China's main diesel engine manufacturers. The company achieved 2008 sales revenue exceeding 50 billion yuan ($7.3 billion) last year, and aims to double that figure to more than 100 billion yuan by 2012.

Weichai Power made some strategy adjustments almost one year ahead of the global economic crisis. In future the company would further cut down its engine sizes and focus on the development of truck engines between 5 and 7 liters.

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