Commercial Vehicle Group Wins New China Business
Commercial Vehicle Group, Inc. (Nasdaq: CVGI), a leading supplier of fully integrated system solutions for the global commercial vehicle market, announced today that it has been selected by Jianghuai Automobile Co. (JAC), a leading Chinese automobile and truck manufacturer, as the supplier for seating and bunk systems on JAC's new truck platform. Under this program, CVG will provide a customized driver seat based on its 700 Series air suspension driver seats for use in JAC's vehicles. CVG is also working to develop passenger and center seats, as well as a sleeper bunk, to further support JAC's new truck program.
CVG expects to begin production of the products for JAC in the second quarter of 2013 at its facility in Shanghai, China. The program is expected to ramp up production over a three-year period and the Company estimates revenues from this program could reach $12 - $15 million per year at full production by 2016-17.
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