ZHEJIANG, China, July 25, 2011-- 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, today announced that the Company has entered into a supply agreement with a new customer, Changsha Zoomlion Heavy Industry Science & Technology Development Co., Ltd. ("Zoomlion"), China's leading manufacturer of construction machinery equipment. SORL will supply braking air processing unit (APU) technology for Zoomlion's crane trucks.
The Company combined braking APU with air cylinders and created a module, which improves the pressure seal integrity and vehicle driving safety. This module will also save installation space, installation time, and installation costs. With SORL's braking APU technology, the Company is furnishing Zoomlion with the whole braking system and other components.
Annual sales from this APU module to Zoomlion are expected to approximate RMB 10 million in 2011.
"We are very pleased to win this new contract with Zoomlion," said Mr. Baojian Tao, the Chief Operating Officer of SORL. "It marks another milestone in SORL's business expansion. We are targeting other leading manufacturers of construction machinery equipment in China as potential users of this braking module, or other SORL products. We have strong confidence that SORL's innovations to increase safety and fuel economy will lead to additional advanced, high-quality products, and combined with improving service, we will add more value to our customers."
About Zoomlion
Founded in 1992 and listed on the Shenzhen Stock Exchange in October 2000 and on the Hong Kong Stock Exchange in December 2010, Changsha Zoomlion Heavy Industry Science & Technology Development Co., Ltd. is the leading manufacturer of construction machinery equipment in China and largest manufacturer of concrete machinery equipment in the world. In 2011, Zoomlion was ranked in the 8th place among the global construction machinery industry and the 5th place amongst China's Top 100 machinery enterprises. Zoomlion is listed as a "Top 500 Chinese Enterprise" and "Top 50 Chinese Machinery Enterprise". Zoomlion has achieved sales of more than RMB 50 billion in 2010.
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 four authorized international sales centers in Australia, 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.