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SOURCE China Yuchai International Limited
SINGAPORE, June 24, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that new-energy buses running on engines supplied by the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), have been launched in Fushun City ("Fushun"), Liaoning Province located in Northeast China.
As a national pilot city for new-energy buses, Fushun has made its first large purchase of new-energy buses from Zhengzhou Yutong Bus Company. Out of the 800 new buses ordered, 600 buses were installed with GYMCL's gas-electric hybrid engines with the remaining 200 buses running on GYMCL's liquefied natural gas engines.
Officials from the Fushun municipal government, representatives from GYMCL and Zhengzhou Yutong Bus Company attended the new-energy bus launch event.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "The introduction of new-energy buses in Fushun shows the determination of the Chinese government to improve the environment through the reduction of harmful emissions. We are receiving increasing demand for our hybrid and natural gas engines to provide solutions for reducing engine emissions and improving fuel efficiency. The selection of GYMCL's engines by Fushun is an endorsement of our superior design and product quality and we are well positioned to benefit from the expected market expansion of new-energy vehicles."
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 2013, GYMCL sold 500,756 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," "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 are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. The Company 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.
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