China National Heavy Duty Truck and ZF Renewed Supply and Marketing Agreement, Heavy Truck Accessories Giant Increases Investment
On the afternoon of December 17, 2010, ZF and China National Heavy Duty Truck signed a strategic agreement, the main content of which is to renew the supply and marketing agreement for five years. At the same time, it will develop a series of new products for CNHTC, including the steering gear used in MAN trucks. This agreement will become an important condition for the international accessory giant, which is mainly engaged in the production of steering gear, to increase its investment in Jinan.
It is understood that at the end of 2005, ZF Steering Systems of Germany invested in the establishment of ZF Commercial Vehicle Steering (Shandong) Co., Ltd. in Jinan and started production in May 2006. The purpose of this company establishment is to supply steering engines for China National Heavy Duty Truck. With the strong rise of China's heavy-duty trucks in recent years, the output has increased significantly year after year. It has increased from tens of thousands of production capacity a few years ago to about 200,000 units in 2010. ZF has also benefited greatly.
Rapp VP of ZF Steering Systems Co., Ltd. bluntly stated that he is very satisfied with the income from the investment in Jinan, and stated that Sinotruk is a large ship and that its products supply more than 60% of heavy-duty trucks. It is understood that ZF, a company in Jinan, has an initial registered capital of 84 million yuan, and the first phase of investment is 146 million yuan. The current registered capital is 186 million yuan, and the total investment has reached 520 million yuan in more than five years. However, there are also many rewards, and a total profit of 270 million yuan has been achieved in more than five years.
According to Rapp, in addition to continuing supply and marketing, the signed agreement will include Sinotruk to increase the proportion of the original ZF steering gear from 95% to 100%, and to research and develop heavy trucks including domestic MAN trucks. Series steering gear new products. Since the signing of the cooperation agreement between Sinotruk and MAN MAN in 2009, both parties will cooperate to produce MAN trucks in China and have been receiving external attention. Rapp said that in Germany, the steering gear used in MAN vehicles will use ZF's products 100%, and it will be natural to continue to use the vehicles produced in China in the future. Cai Dong, president of China National Heavy Duty Truck Group, also said that when they produced the MAN truck off the line can not be determined, the agreement does have content related to MAN. This agreement will become an important factor for MAN to expand investment in Jinan. Rapp said that next they will invest 150 million yuan to set up R&D centers and expand production capacity. The annual production capacity will be expanded from the original 150,000 units to more than 300,000 units.
ZF's expansion of investment is only a typical example of the development of Jinan’s business cards by the international heavy truck accessories giants. In 2009, another German Fortune 500 company, Continental Group, also signed a contract to set up a production base in Jinan. The site is only a few hundred meters away from the ZF. In recent years, many heavy-duty truck parts supply companies, like ZF and China, have set up production companies in Jinan in order to facilitate the supply of China National Heavy Duty Truck. Some of them have even helped the company to build factories, and then they rented Sinovac's plant. Heavy truck supply accessories.
China National Heavy Duty Truck has become the "Golden Phoenix" "Jin Phoenix Tree" to attract Jinan
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