ZHEJIANG, China, Sept. 8, 2011 /PRNewswire-Asia-FirstCall/ --
SORL Auto Parts, Inc. (NASDAQ: SORL)
("SORL" or "the
Company"), a global tier one supplier of brake
and control systems to the commercial vehicle industry, announced
today that the Company has been awarded the title of "Qualified
Supplier" by Xiamen King Long
United Automotive Industry Co., Ltd. ("King Long Bus"), one of
China's largest bus manufacturers.
The Company has begun supplying its air brake products to King Long
Bus. This new supplier relationship marks another breakthrough by
SORL in the Chinese domestic bus market after winning orders from
Zhengzhou Yutong Group Co. Ltd. to purchase disc spring chambers
exclusively from SORL in 2011.
In 2011, the Chinese bus market continues to maintain its growth
momentum due to greater urbanization, improved road conditions and
expansion in highway passenger transportation. Following recent
market trends, SORL has enhanced its development program for the
Chinese bus market as it continues to gain greater penetration
through the Company's diversified portfolio of highly-reliable,
high-quality products.
Mr. Baojian Tao, SORL Auto Parts'
Chief Operating Officer, commented, "We will continue to strengthen
our strict quality assurance program and product innovation, as
well as promote our systematic modular supply to optimize our
product portfolio. We are confident in our capability to supply
customers with high value-added and cost-effective braking
solutions so as to increase our market share and enhance our
profitability."
Established in 1988, Xiamen
King Long United Automotive Industry Co., Ltd. specializes in
R&D, manufacture and sales of buses. The Company enjoys the
reputation of being the "National Bus" of China and it has successfully serviced
numerous key international events such as the 2008 Beijing Olympic
Games, the 2010 Shanghai World Exposition and the 2010 South Africa
World Cup. King Long buses range
from 4.8 meters to 18 meters in length and are widely used for
passenger transportation, traveling, public transportation and
special purposes. In 2010, King Long Bus sold 23,561 units with
total sales revenue exceeding 6.5 billion
RMB. Currently, King Long Bus products are sold in more than
80 countries and regions around the world.
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. 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 three authorized international sales
centers in UAE, India, and
the United States. 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:
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Ben Chen
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VP Finance & Corporate
Secretary
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+86 577 6581 7721
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Email: ben@sorl.com.cn
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Kevin Theiss
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Grayling
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+1 646 284 9409
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Email: kevin.theiss@grayling.com
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SOURCE SORL Auto Parts, Inc.