China National Heavy Duty Truck and Dazao Group Sign Strategic Restructuring and Equity Transfer Agreement

Chen Chuanping Feng Lixiang Yan Yanbo Ma Chunji attended the signing ceremony

The picture shows the site of the signing ceremony for the strategic restructuring and equity transfer agreement between Sinotruk and DaZhao Group. Photo by Qiao Xiaoguang

The strategic restructuring and equity transfer agreement between China National Heavy Duty Truck Group and Da Zou Group was signed at Yingze Hotel, Taiyuan. This is an important measure for the deep implementation of the scientific concept of development by the two provinces of Shanxi and Shandong, and the realization of complementary strategies for the province’s advantages. It is also a major achievement of the strategy for the introduction of large enterprises and large groups in the city.

Deputy Governor Chen Chuanping, Secretary of the Municipal Committee Feng Lixiang, Deputy Secretary of the Municipal Party Committee, Mayor Yan Yanbo, Ma Chunji, Chairman of the CNHTC Group, Secretary of the Party Committee, Zhu Chengji, Deputy Director of the Provincial State-owned Assets Supervision and Administration Commission, Gao Zhijun, Chairman of the Board of Directors and Party Committee of the Taizhong Heavy Industries Group, Municipal leaders Chai Shubin, Li Wuzhang, and Ma Bin, as well as leaders from the Shandong State-owned Assets Supervision and Administration Commission and China National Heavy Duty Truck, attended the signing ceremony.

China National Heavy Duty Truck is the cradle of China's heavy-duty auto industry. In January 2001, the former CNHTC was restructured and restructured. After restructuring, China National Heavy Duty Truck retained the two brands of “China Heavy Duty Truck” and “Steyr”, insisted on independent innovation and made every effort to create its own product advantages. Currently has more than 1,200 various types of models, is the most complete domestic driving form, the largest variety of tonnage, and the most complete service guarantee for heavy-duty vehicle manufacturers. The DAG Group has the advantages of gearbox products, manufacturing technology, quality control advantages, brand advantages, as well as strong gear manufacturing capabilities and a very promising international market foundation, which has a strong attraction for CNHTC. In the strategic restructuring of the two parties, the Daku Group can effectively solve the strategic risks of transmission resources of China National Heavy Duty Truck Group and the supply of gear and shaft parts. In the next five years, China National Heavy Duty Truck's 250,000 units of heavy-duty transmissions will be supplied by the restructured DaZhao Group, which is expected to reach more than 150,000 units. Relying on the continuous increase in the proportion of China National Heavy Duty Truck Group, Dajia Group can further expand the existing domestic mainstream market.

Ma Chunji and Gao Zhijun spoke at the signing ceremony.

Wang Junmin, Member of the Standing Committee of Shandong Provincial Party Committee and Deputy Governor, sent a letter of congratulation for the signing ceremony.

China National Heavy Duty Truck Group, Taizhong Group, and Shanxi Economic and Trade Assets Corporation jointly signed a strategic reorganization and equity transfer agreement.


View related topics: China National Heavy Duty Truck Breaks Monthly Sales Record for National Heavy Truck Industry

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