ZHEJIANG, China, Aug. 27, 2013 /PRNewswire/ -- SORL Auto Parts, Inc. (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 the Company was selected as the exclusive developer for all air-operated valves for the new-generation, model N211 medium-duty truck introduced by Anhui Jianghuai Automobile Co., Ltd. ("JAC").
Ms. Jinrui Yu, SORL's Chief Operating Officer, commented, "By selecting SORL as the exclusive developer, JAC acknowledges our superior design capabilities, excellent quality control and advanced manufacturing processes for products requiring higher technology content. JAC required very stringent performance and quality standards for products used in this premium vehicle."
Anhui Jianghuai Automobile Co., Ltd. is a diversified automobile enterprise that specializes in the manufacture, sales and service of both commercial and passenger vehicles. JAC employs approximately 16,000 workers and sold approximately 450,000 vehicles in 2012. JAC's light-duty commercial vehicles have been ranked No. 1 in China for ten consecutive years and passenger vehicles also have rapidly grown. Currently, JAC exports to South America, Europe, Africa, Asia and other regions.
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 http://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 within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of forward-looking terminology such as "expects," "anticipates," "believes," "targets," "goals," "projects," "intends," "plans," "seeks," "estimates," "may," "will," "should" 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. These risks and uncertainties may include, but are not limited to general political, economic and business conditions which may impact the demand for commercial vehicles or passenger vehicles in China and the other significant markets where the Company's products are sold, uncertainty regarding such political, economic and business conditions, trends in consumer debt levels and bad debt write-offs, general uncertainty related to possible recessions, natural disasters, the political stability of China and the impact of any of those events on demand for commercial or passenger vehicles, changes in consumer confidence, new product development and introduction, competitive products and pricing, seasonality, availability of alternative sources of supply in the case of the loss of any significant supplier or any supplier's inability to fulfill the Company's orders, cost of labor and raw materials, the loss of or curtailed sales to significant customers, the Company's dependence on key employees and officers, the ability to secure and protect trademarks, patents and other intellectual property rights, potential effects of competition in the Company's business, the dependency of the Company upon the normal operation of its sole manufacturing facility, potential effect of the economic and currency instability in China and countries to which the Company sold its products, the ability of the Company to successfully manage its expenses on a continuing basis, the continued availability to the Company of financing and credit on favorable terms, business disruptions, disease, general risks associated with doing business in China or other countries including, without limitation, foreign trade policies, import duties, tariffs, quotas, political and economic stability, and the other factors discussed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. 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) at http://www.sec.gov.
SOURCE SORL Auto Parts, Inc.
|WABCO Announces Major New Contract to Supply Braking Systems for Next Generation of Medium-Duty Trucks at GAZ Group, Russia's Largest Manufacturer of Commercial Vehicles ()|
|Maxwell Technologies Introduces Its Ultracapacitor-Based Engine Start Module For Medium Duty Diesel Trucks (2014/3/5)|
|MEGA Brands and Activision Announce New Premium Call Of Duty® Line Of Collector Construction Sets ()|
|MEGA Brands and Activision Announce New Premium Call Of Duty® Line Of Collector Construction Sets (2013/10/8)|
|Clean Energy to Open Two America’s Natural Gas Highway Stations to Fuel New Raven Transportation LNG Heavy Duty Trucks (2013/10/10)|
|Cummins Supports Government Efforts to Develop Next Phase of Greenhouse Gas Emission and Fuel Efficiency Standards for Medium- and Heavy-Duty Vehicles (2014/2/18)|
|It’s Time to Have You Some Fun as Call of Duty: Ghosts Debuts the Predator in New Devastation DLC Pack Available Today First, Exclusively on Xbox Live (2014/4/3)|
|NF Energy Saving Corporation Announces NF Energy's New Product - Delivery of DN2000 Vacuum Butterfly Valves for Air Condition Co., Ltd., Harbin ()|
|Petron Energy II, Inc. Announces New Member to Board of Directors Officially Begins Duties and Operations Update (2013/9/30)|
|MaxLinear and PBI Develop Next-Generation Digital ODU for New Class of Multichannel Satellite TV Operator Services (2014/1/20)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.