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Yuchai, CSR and Sichuan Nanjun join hands for engine production

by Karen Di   2011-03-30

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BEIJING – Yuchai Group, China South Locomotive & Rolling Stock Corp. Ltd. (CSR), and Sichuan Nanjun Automobile Group held a signing ceremony in Beijing on March 7 for the establishment of CSR Yuchai Sichuan Engine Co., Ltd. in Ziyang, Sichuan Province.

CSR Yuchai Sichuan Engine Co., Ltd. will be a research and manufacturing company that will produce high- and medium-speed engines for automobiles, locomotives, ships and land power generations. The total investment of the project is ¥3 billion ($455 million) and ¥300 million has been funneled as registered capital for the initial construction.

After the project is completed, it will annually churn out 200,000 and 700 high- and medium-speed engines respectively, raking in sales revenue of ¥10 billion and realizing profit before tax of ¥1 billion. With the formation of the new engine enterprise, Ziyang is expected to be turned into a first-class engine manufacturing base in the western region of China within three to five years.

According to media reports, the new engine company will be able to have an annual output capacity of 100,000 automobile engines and 200 ship engines by the end of this year.

Yuchai Group has set a sales target of 680,000 engines for 2011. According to Yuchai Group chairman Yan Ping, the company will focus on its two core products of engines and industrial machinery over the next five years.

In 2010, Yuchai Group achieved sales revenue increase by 35 percent to ¥36.84 billion.

 
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