SORL Auto Parts Won Supplier Awards from Leading Truck OEMs in China
SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or the "Company"), a leading manufacturer and distributor of automotive brake systems as well as other key safety-related auto parts in China, announced today it has recently won the "2017 Best Quality Award" from Shaanxi Hande Axle Co., Ltd. ("Hande Axle") and the "2017 Excellent Supplier Award" from Baotou BeiBen Heavy-Duty Truck Co. ("Beiben Truck").
Mr. Xiaoping Zhang, SORL's Chairman and Chief Executive Officer, stated, "Our customers continue to acknowledge the quality improvements and product innovations of our enhanced products. We have made significant improvements in our product performance and manufacturing to provide higher quality and better service to meet the demands of our OEM and aftermarket customers. We believe we have an approximate 60% market share in the products we supply annually to these two customers."
BeiBen Truck is a top-10 manufacturer of heavy-duty trucks in China and produced almost 13,000 heavy-duty trucks in the first 11 months of 2017 with a 48.2% year-over-year increase. Based in Baotou, Inner Mongolia, China. BeiBen Truck, (North Benz), is part of the North Industries Group Corporation (NORINCO). It was founded in 1988 when BeiBen signed an agreement with Daimler-Benz to manufacture Mercedes-Benz Trucks.
Hande Axle was founded in March 23, 2003 by Weichai Power and Shaanxi Automobile Group as a joint venture. The company is a high-tech enterprise, with two factories comprising 200,000 square meters. The existing staff is more than 3,800 people with technical and engineering personnel of more than 600 people. The main products are: 5.5T - 16T steering front axle, 10T - 35T double reduction drive axle, 9T - 13T single reduction drive axle, steering driving front axle 5T - 13T, 5T - 16T trailer bridge resulting in more than 2,700 models. The double reduction drive axle and single reduction drive axle possess unique technical advantages and a strong load capacity and torque transmission capability, resulting in a leading position in the domestic market.
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. (www.chinatrucks.com)
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