Benzinga | Jul 15, 2020 06:02AM EDT

China Yuchai and Sany Form New Strategic Partnership

China Yuchai International Limited (NYSE:CYD) ("China Yuchai"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has entered into a new strategic partnership agreement with Sany Truck to enhance the core competitiveness of both companies.

At a recent meeting at Yuchai's main production plant in Yulin, China, Mr. Liang Linhe, Director of Sany Group Co., Ltd. and Chairman of Sany Truck met with Mr. Yan Ping, Chairman of GYMCL, and concluded the signing of a new strategic partnership agreement.

According to the agreement, GYMCL and Sany Truck will further expand the breadth and depth of cooperation regarding technology, marketing, services and resource sharing to ensure that Yuchai becomes a strategic OEM supplier to Sany Truck.

Based in Hunan Province China, Sany Group Co. Ltd. is China's leading machinery equipment maker and is an industry-leading global manufacturer of construction and mining equipment, port machinery, oil drilling machinery and renewable wind energy systems.Sany is considered to be one of the world's largest concrete machinery manufacturers and the number one manufacturer of construction equipment in China.Sany has built 25 manufacturing bases, and has over 100 offices with more than 400 agents and 8,000 suppliers worldwide.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are proud to have Sany as our strategic partner and we look forward to empowering their ongoing growth with our advanced manufacturing capabilities and a large diversified portfolio of engines."