China Yuchai International's Joint Venture with Caterpillar Inaugurates Remanufacturing Plant
China Yuchai International Limited (NYSE: CYD) announced today the inauguration of Yuchai Remanufacturing Services (Suzhou) Co., Ltd's ("Yuchai Remanufacturing") new permanent factory at Suzhou Industrial Park. The new factory will replace Yuchai Remanufacturing's operations at a temporary workshop located nearby.
Yuchai Remanufacturing is a joint venture company formed in 2010 between the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") and Caterpillar (China) Investment Co., Ltd. ("Caterpillar China"), a subsidiary of Caterpillar Inc. to provide remanufacturing services mainly for GYMCL's diesel engines and components. Yuchai Remanufacturing delivered its first remanufactured engine in September 2011. With phase one of the permanent plant commencing operations, approximately 14,000 square meters of space is now available to support Yuchai Remanufacturing's activities. The new plant is expected to reach full operational capacity in 2014 with approximately 400 employees.
Mr. Yan Ping, Chairman of the Board of Directors of GYMCL together with representatives from Caterpillar and members from the Working Committee of the Suzhou Industrial Park as well as from the Chinese Academy of Engineering attended the inauguration ceremony.
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