| 17-01-2008 Brussels-based
Westinghouse Air Brake Co (WABCO) has more than doubled its investment in its
Qingdao factory to meet projected demand for automotive parts, mainly for heavy-duty
vehicles. WABCO has invested US$19 million to expand its manufacturing facilities
in Shandong Province's Qingdao, said Liu Liang, its Asia-Pacific president. The
Qingdao factory was established in 2004 with an initial investment of $16 million.
The company entered the China market in 1996 with a joint venture in Jinan, also
in Shandong. "China
is one of our key engines for global expansion, and we are speeding up our efforts
to follow the Chinese market's fast development," said Liu. WABCO's sales
in China have maintained an annual average growth of 50 percent over the past
few years, while its growth rate in global markets was about 8 percent a year.
For the Asia-Pacific region, sales grew at an average 12 percent. WABCO
is a global manufacturer of electronic braking systems, computerized stabilizers,
suspension and transmission control systems for commercial vehicles. China is
the largest single market for WABCO, Liu said. The nation produces more than 600,000
heavy-duty commercial vehicles every year - more than either Europe or North America.
WABCO's market share of anti-lock braking systems (ABS) in China has been maintained
at 60 to 70 percent in the past couple of years, Liu said. WABCO has been a pioneer
in the development of ABS in cooperation with DaimlerChrysler since 1981. Editor:Frederick
Wei from Chinabuses.com
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