ZHEJIANG, China, Dec. 19, 2011 /PRNewswire-Asia-FirstCall/ -- SORL Auto Parts, Inc. (NASDAQ: SORL ) ( " SORL " or " the Company " ), a leading supplier of brake and control systems to the global commercial vehicle industry, today announced that the Company's subsidiary, Ruili Group Ruian Auto Parts Co., Ltd, received the "2011 Excellent Supplier" award from the Bei Ben Heavy-Duty Truck Co., Ltd. (" Bei Ben").
Only 53 suppliers received the "Excellent Supplier" award among the 400 suppliers that participated in Bei Ben's 2011 annual supplier meeting. SORL's sales of electrical and valve products to Bei Ben are estimated to grow by 10% to approximately 54 million RMB, or $8.5 million, in 2012.
Mr. Baojian Tao, Chief Operating Officer of SORL, commented "We are very pleased to receive this award from Bei Ben. By leveraging the Mercedes-Benz technology platform, and internal design and manufacturing capabilities, Bei Ben has developed an established brand of heavy- and medium-duty trucks in the Chinese market. This designation acknowledges the advanced technology and premier service of our product solutions. This win cements our relationship with one of the largest and most technologically advanced manufacturers in the Chinese heavy-duty vehicle markets. We continue to improve our product innovation and quality assurance to deliver superior and more cost-effective product solutions."
About Baotou Bei Ben Heavy-Duty Truck Co., Ltd.Baotou Bei Ben Heavy-Duty Truck Co., Ltd. is a state-owned vehicle enterprise jointly established by China North Industries Group Corporation, the Inner Mongolia First Machinery (Group) Co., Ltd., the China Huarong Asset Management Corporation, Chongqing Iron Horse Group, Baotou City Industrial State-Owned Assets Co., Ltd, and the Shandong Hill Group. With 20 billion RMB in capital, Bei Ben produces 40 basic vehicle models consisting of more than 400 varieties of trucks, dump trucks, tractor trailers, modified vehicles, special purpose vehicles and full-drive vehicles. Bei Ben's products have been exported to countries in the Middle East, Africa, and Asia. 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. ranked No. 1 for market share in the segment for commercial vehicles brake system, 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 system 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. 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 our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. 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. Contact Information Ben Chen VP Finance & Corporate Secretary+86 577 6581 7721Email: email@example.com Kevin Theiss Grayling +1 646 284 9409Email: firstname.lastname@example.org SOURCE SORL Auto Parts, Inc.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.