SORL Auto Parts, Inc. (SORL) Creates European Subsidiary to Win More Security Related Auto Parts Contracts with Truck, Bus and Trailer Manufacturers across Europe
SORL Auto Parts, Inc., a leading Chinese supplier of brake and control systems to the global commercial vehicle industry, announced today the creation of a new subsidiary, SORL Europe, to win more contracts and service customers in Europe, Middle East and Africa. SORL Europe will market its quality certified products to truck, trailer and bus manufacturers and look to increase its aftermarket distribution network. The new subsidiary will be located in Brussels, Belgium and will be headed by Jean Francois Barth, Vice President of International Markets and Managing Director SORL.
SORL Auto Parts principally manufactures and distributes automotive brake systems and other key security related auto parts directly to automotive original equipment manufacturers. The Company’s products primarily are used in commercial vehicles like trucks and buses. It is China’s largest commercial airbrake system manufacturer with over half of its customers comprised of China’s major vehicle manufacturers. The European brake market is posed to be an important vehicle for growth with 10 percent growth projected this year for aftermarket products.
“We believe there is a significant opportunity for SORL to expand its presence in these growing markets. The European truck market is particularly attractive as heavy-duty truck registrations increased over 50% in the first half of 2011 and the aftermarket consists of a large number of trucks between 4 and 9 years of service requiring replacement parts. Our product development strategy is focused on providing high-value solutions that increase driver safety. SORL is the best value brand for these markets providing the high-quality products and services our customers expect,” said Jean Francois Barth, Vice President of International Markets and Managing Director.
“SORL Europe is another step in our global expansion. SORL now has dedicated regional operations to enhance our penetration of these important markets. A more local presence will enable us to become more integrated with our customers so we can better anticipate their future requirements. We continue to design and manufacture our products to meet global standards so we can more quickly access and service foreign markets,” added Xiaoping Zhang, Chairman of the Board of Directors and Chief Executive Officer.
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