Recently, the signing ceremony of the joint venture contract for the Dongfeng-Huimen Pistons business was held at the company's Shiyan base. This is the implementation of national industrial planning and structural adjustment requirements by Dongfeng Motor Components Co., Ltd. and Federal-Mogul Corporation, to achieve strong alliances and complement each other, and to promote piston business. Important initiatives for high-quality development. It is understood that the new joint venture company plans to invest 400 million yuan to settle in the Dongfeng Parts Group Industrial Park in Zhangwan District, Shiyan City. It will build a modern front for the design, manufacture and sales of internal combustion engine pistons. By 2022, sales revenue will reach 380 million yuan, and some products will be exported to North America. The new joint venture company designs and manufactures high-performance piston products for China and Dongfeng's automotive engines, providing quality services to help increase the thermal efficiency and carbon emissions of traditional energy engines. In order to meet current and future environmental regulations.
Shi Xinwu, deputy secretary of the Shiyan Municipal Committee, and Mayor Chen Xinwu attended the signing ceremony and said in their speeches that Dongfeng Parts Company and US Federal-Mogul Corporation have deepened cooperation on the Pistons Project and will certainly accelerate the transformation and upgrading of the Shiyan Auto Parts Industry. Shiyan will fully support the project construction. , To create a good environment for the development of the new company, provide quality services, let the company's foreign employees work in Shiyan, happy life.
Peter KNIPPING, director of global operations for Pistons at Federal-Mogul, said: 'US Federal-Mogul is a technology-driven company and we will also inject this important element into the Dongfeng-Huimen Pistons business. We hope to establish long-term trust through joint ventures and cooperation between the two parties. The good relationship makes both parties stronger.
Dongfeng Automobile Parts & Components (Group) Co., Ltd. General Manager Chen Xinglin said that Dongfeng Parts & Accessories has always attached importance to the development of the piston business. We look forward to taking this piston business joint venture as an opportunity to gather the joint venture's superior resources, R&D technology, advanced management, and promote new The joint venture company has rapidly grown into a benchmarking company in the domestic piston industry, creating an industry 'little giant' enterprise.
Chen Xinglin, President of Federal-Mogul Korea South Korea Cheng Yin, Director of Federal-Mogul Pilot Division of Federal-Mogul, and Qingdao General Manager Zhou Huiguo jointly signed Dongfeng Momento Pistons Joint Venture Contract. Xiao Dongyou, Party Secretary of Dongfeng Parts Company, presided over the signing ceremony. City leaders, Federal-Mogul, Federal-Mogul China, Qingdao Huimen, Person in charge of some functional departments of Dongfeng Parts Co., Ltd., Head of Dongfeng Piston Bearing Co., Ltd. witnessed the signing of the contract.
It is understood that the US Federal-Mogul Corporation is a leading global manufacturer and service provider of vehicle and industrial equipment components, serving the world's most important automotive, commercial vehicles, aviation, marine transportation equipment, railways, power generation and industrial fields. The company was founded in 1995. Established the first production plant in China, currently has 12 wholly-owned and joint venture factories in China, and the Dongfeng-Huimen Pistons Business Project is its second piston position in China.