On July 6, 2012, Fast Automotive Transmission Group (“Fasterâ€) and Shell (China) Co., Ltd. (“Shellâ€) signed a strategic cooperation agreement in Xi’an, announcing that both parties will carry out comprehensive development in the field of lubricants. Cooperation will promote the win-win development of both the automotive industry and the energy industry. Deputy leaders of the Shaanxi Provincial State-owned Assets Supervision and Administration Commission Zhou Shuian and Deputy Director of the First High-tech Zone Management Committee Liu Minghua, and other leaders, Fastener Group Chairman Li Dakai and Ms Wu Ruizhen, Vice President of Shell's Asia Pacific/Middle East Region Commercial Fuels and Lubricants Business, attended the signing ceremony .
Fast is China's largest manufacturer of heavy-duty transmissions and has a market share of over 70% in China's heavy-duty automotive transmission market. As one of the world's largest energy companies, Shell has been the world’s largest lubricant manufacturer and supplier for five consecutive years since 2006 and is also China’s largest international lubricant supplier.
Fast and Shell, respectively, as leaders in the heavy-duty transmission and lubricants industry, will highlight the strength of the joint strength of the brand. Through the establishment of an intimate technology partnership, Shell will provide comprehensive and professional lubrication technology solutions for new product development, technology updates and more. In the marketing area, Shell will also provide comprehensive market support resources and innovative marketing tools to enhance the satisfaction and use of Fast customers.
At the same time, Fast will build an exclusive lubricant team with the assistance of Shell, combining with both the network development experience and characteristics, working hand in hand with Shell to expand and expand the domestic channel network, and fully promote the cooperation with Shell's special oil products in the after-sales service network. . Fast will also use Shell's global advantages to actively explore global business and accelerate international development.
Mr. Li Dakai, chairman of Fast Group, said at the signing ceremony: “Faster has grown into the world’s largest heavy-duty automotive transmission manufacturer and supplier, but we will further accelerate the international development process and become a world-class enterprise. The strategic cooperation between Fast Group and the world’s top 500 global energy giants and shell companies marks that the Fast Group has taken a new step in international cooperation and globalization and achieved a new leap forward. We will work hard to bring our advantages into full play and form a close partnership of technical cooperation to carry out all-round cooperation in the field of lubricants.I believe that the strong alliance between Fast Group and Shell will play a powerful role in the further development of both businesses. The promotion role will also lay a solid foundation for the parties to cooperate in the larger areas and deeper levels."
Ms. Wu Ruizhen, Vice President of Commercial Fuels and Lubricants Business of Shell Asia Pacific/Middle East Region, pointed out that "Shell, as one of the largest energy companies in the world, has been in China for more than a century. With China becoming one of the world's largest lubricants markets, The importance of the Chinese market to Shell is increasing.Shell has long been committed to creating better customer value and business value together with China's strategic partners.The cooperation with Fast will further strengthen the brand, technology and network of both parties. With such advantages, we will provide end users with more professional and efficient services, which will increase end-user satisfaction and loyalty, and believe that both parties will become strategic partners for long-term stability, innovation and mutual benefit.
After the signing ceremony, Yan Jianbo, General Manager of Shaanxi Fast Automotive Transmission Group Corporation, Ms. Wu Ruizhen, Vice President of Commercial Fuel Oil and Lubricants Business, Asia Pacific/Middle East of Shell Group, and Shen Jian, General Manager of Lubricants Business, Shell China Group and Hong Kong In the media interview, Mr. Zhang also explained the value of cooperation between Fast and Shell.
Prior to the signing ceremony, the two parties had conducted long-term exchanges of strategic cooperation and made a lot of preliminary preparations, including customization of product formulations and strict road tests. With the official launch of the cooperation, Shell will provide more customized products for Fast, leading technology of Shell Lubricants, and quality advantages of oil products to enhance the stability and reliability of Fast Transmission.
Yan Jianbo, general manager of Fast Group, stressed that the cooperation between the two parties is not only in terms of product R&D, but also follow-up in a larger area and deeper level of cooperation. Ms. Wu Ruizhen, Vice President of Commercial Fuels and Lubricants Business of Shell Asia Pacific/Middle East Region, introduced the importance of the Chinese market to Shell: “Although the world economy and the Chinese economy have undergone adjustments in recent years, this is a short-term one. China will become the largest lubricants market by 2020, and Shell will continue to support the Chinese market through leading technologies and advanced environmental protection concepts.
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