Le Lézard
Classified in: Mining industry, Transportation, Business
Subject: CXP

China Yuchai Subsidiary Establishes New Business Enterprise in Vietnam


SINGAPORE, Nov. 19, 2019 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or "the Company"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today GYMCL's 71.8%-owned subsidiary, Guangxi Yuchai Machinery Monopoly Development Co., Ltd. ("YMMC") has registered in Vietnam a new wholly owned business enterprise, Vietnam Yuchai Machinery Services Co., Ltd. ("VYMS"), with a paid-up capital of USD500,000 funded through internal sources to expand operations there.

The goal of VYMS is to facilitate the greater market penetration of the Vietnamese market with China Yuchai's products and services. VYMS will be instrumental in providing wholesale and retail distribution, technical advisory and consulting, engine maintenance and repair services.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We view our neighboring nation as an excellent opportunity to expand our international footprint. Strategically located in Southeast Asia and blessed with a fast-growing young population, Vietnam expanded its GDP by 7.8% in 2018. We have established an engine business in Vietnam, and our engines can assist in the further development of the country's economy. We look forward to continuing to grow our market presence and customer base in Vietnam."  

About China Yuchai International

China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, the Company distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in China with high-quality products and reliable after-sales support. In 2018, GYMCL sold 375,731 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com.

Safe Harbor Statement:

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning China Yuchai's and the joint venture's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China including those discussed in China Yuchai's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

For more information:

Investor Relations
Kevin Theiss
Tel: +1-212-521-4050
Email: cyd@bluefocus.com

SOURCE China Yuchai International Limited


These press releases may also interest you

at 16:20
NuLegacy Gold Corporation is pleased to report that Mr. Mark Bradley, a Senior Project/Chief Geologist for Barrick Gold Corporation supervising major exploration teams and a Principal Geologist assessing new North American exploration opportunities,...

at 16:05
Panoro Minerals Ltd. ("Panoro", the "Company") is pleased to announce its exploration plans for its Humamantata Project located in southern Peru.  The Company and its Joint Venture Partner, the Japan Oil, Gas and Metals National Corporation,...

at 16:00
The "Australian Industrial Pumps Market, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering. This study analyses the size, drivers, restraints, trends, opportunities, and competitive environment of the Australian industrial...

at 15:00
Cross Company, a 100% employee owned industrial solutions company that is innovating industry, one customer at a time, announced today they are acquiring Flow-Tech, a process instrumentation and measurement technology sales and service provider based...

at 15:00
In 2018 Patriot Ordnance Factory released their enhanced G-Series slide. Ever since then, their customers have been demanding a complete pistol. New for 2020, POF-USA is proud to announce the P19 Gentlemen's Pistol. The...

at 14:52
On Monday T5 Data Centers, a leading provider of mission-critical development, facilities management and construction services, announced the purchase of a 164,000-square-foot data center shell in the Elk Grove Technology Park. The facility will...



News published on 19 november 2019 at 06:00 and distributed by: