SORL Awarded "2012 A Rank Supplier" and "2013 A Rank Strategic Partner" Designations
www.chinatrucks.com: SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or the "Company"), a leading sUPplier of brake and control systems to the global commercial vehicle industry, announced today that it received both the "2012 A Rank Supplier" and "2013 A Rank Strategic Partner" awards by Dongfeng Dana Axle Co., Ltd. ("DANA"). DANA is the largest semi-independent subsidiary of the DongFeng Group, and it is the largest and most profitable axle production facility in China with a diversified line of produCTS.
SORL was one of only 10 suppliers that received both the "2012 A Rank Supplier" and "2013 A Rank Strategic Partner" awards from DANA. Through winning these awards, SORL will be entitled to supply a higher share of DANA's brake purchases, and the Company will receive preferential payment terms as well.
Ms. Jinrui Yu, SORL's Chief Operating OFFicer, commented, "Winning both the '2012 A Rank Supplier' and '2013 A Rank Strategic Partner' awards highlights Dongfeng Axel's recognition of our products' high quality and superb performance. These awards reinforce the judgment of other OEMs such as Shaanxi Heavy Duty Truck Co., Sichuan South Chun Auto Group Company Limited, Hubei Sanjiang Space Wanshan Special Vehicle Co., Ltd., and Zhengzhou Yutong Bus Co., Ltd., who have all given SORL similar supply awards in the recent past. We continue to closely cooperate with our partners and enhance our R& D to provide more technologically advanced products and cost-efficient solutions to our clients."
About SORL Auto Parts, Inc.
As a global tier one supplier of brake and control systems to the commercial vehicle industry, SORL Auto Parts, Inc. is the market leader for commercial vehicles brake systems, such as trucks and buses in China. The Company distributes products both within China and internationally under the SORL trademark. SORL is listed among the top 100 auto component suppliers in China, with a product range that includes 65 categories with over 2000 specifications in brake systems and others. The Company has four authorized international sales centers in UAE, India, the United States and Europe. SORL is working to establish a broader global sales network. For more information, please visit https://www.sorl.cn.
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "will", "believes", "expects" or similar expressions. These forward-looking statements may also include statements about the Company's proposed discussions related to its business or growth strategy, which are subject to change. Such information is based upon expectations of the Company's management that were reasonable when made, but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond the Company's control and upon assumptions with respect to future business decisions, which are subject to change.
The Company does not undertake to update the forward-looking statements contained in this press release. For additional information regarding known material factors that could cause the Company's results to differ from its projected results, please see its filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR).
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