On August 27, 2012, the Ordnance Industry Group Company and Guangxi Yuchai Machinery Group Co., Ltd. held a signing ceremony for the signing of engine cooperation intention in Beijing. Zhang Guoqing, general manager of the group company, and Yu Ping, chairman of Yuchai Group, addressed the ceremony. Jiao Kaihe, deputy general manager of the group company and Wu Qiwei, general manager of Yuchai Group, signed the letter of intent for cooperation. Bao Xuebin, the deputy mayor of Baotou City, Inner Mongolia, and Li Yuhui, chairman of Yuchai United Power Company Limited, witnessed the signing ceremony.
In his speech, Zhang Guoqing pointed out that this cooperation is a major event for the two sides to seek excellence and strength. This is both a concrete embodiment of the two parties' implementation of the strategic cooperation agreement between the Weapons Industry Group Corporation and the Guangxi Zhuang Autonomous Region and an important measure for the joint and common development of the two sides. It is of great significance to leapfrogging the two parties' technological status, market position and strategic position. The strengthening of cooperation between the two sides in the engine sector will not only expand the Yuchai Group’s market position in the engine market, increase the competitiveness of the heavy industry vehicle industry in the weapons industry, but also lay a good foundation for both parties to cooperate and trust in a wider range of fields. We firmly believe that with the support of all parties, there are two companies that have strong technical strength and market resources. The cooperation between the two parties will certainly have fruitful results.
Luan Ping said in his speech that the cooperation between the two sides will help both sides play their respective advantages in the fierce competition in the domestic heavy truck market and will certainly greatly enhance their competitiveness in the field of heavy equipment. In accordance with the spirit of the agreement, Yuchai will actively establish a coordination mechanism, implement cooperation responsibilities, refine related measures, innovate cooperation models, and enrich cooperation content, prompting the two parties to enter into substantive stages as soon as possible. Yuchai will also use this signing opportunity to seek more extensive cooperation with the Ordnance Industry Corporation in various fields and push forward the cooperation in the higher level, broader field and larger scale.
Yuchai Group is a leading company in the domestic engine industry and is the most comprehensive producer of domestic engine pedigrees.
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