Wonder Auto Opens Detroit Sales and Marketing Office Headed by Former Delphi Sales Executive
JINZHOU CITY, Liaoning Province, China, Oct. 1, 2007 /Xinhua-PRNewswire/ -- Wonder Auto Technology, Inc. ("Wonder Auto" or the "Company"), a leading manufacturer of automotive electrical and suspension parts in China, today announced that its subsidiary, Jinzhou Halla Equipment Electrical Equipment Co., Ltd. ("Jinzhou Halla"), has opened an office in the metro-Detroit area. The office will focus on North American Original Equipment Manufacturers (OEMs) and the auto parts aftermarket.
Mr. Robert Forreider has joined Jinzhou Halla as the Vice President of Marketing and Sales to lead Jinzhou Halla's marketing and sales efforts to penetrate the North American market. Mr. Forreider has 39 years experience in the worldwide auto parts industry. He served as the Director of Global Sales for GM Delphi and was the Vice President of Global Sales for Delphi Automotive. Mr. Forreider has a Bachelor of Science degree in Mechanical Engineering and a Masters of Business Administration (MBA) from the University of Michigan.
Mr. Forreider's responsibilities include sales and marketing strategy and planning, market intelligence and the development of a sales network to enable Wonder Auto to capture market share in North America. Mr. Qingjie Zhao, Wonder Auto's Chairman and CEO, commented, "We are excited to establish a local presence in Detroit after years of planning and product development. We are extremely pleased to have industry veterans like Robert Forreider join us who recognize Wonder Auto's growth opportunity in North America. As the second largest starter and alternator producer in China, we believe we have the capability and quality to compete in the North American market as well."
About Wonder Auto
Based in Jinzhou City, Liaoning, China, Wonder Auto, through its Chinese subsidiaries, designs, develops, manufactures and sells automotive electrical parts and suspension products. Wonder Auto was ranked second in sales revenue in the China market for automotive alternators and starters in 2006. With respective 5 different series and over 150 models of alternators, 70 models of starters and various suspension related parts, the Company supplies a wide range of automakers, engine producers and auto parts suppliers both in domestic China and overseas. Wonder Auto's main customers include Beijing Hyundai Motor Company, Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd., Harbin Dongan Automotive Engine Manufacturing Co., Ltd., and Tianjin FAW Xiali Automotive Co., Ltd. For more information, please log on http://www.watg.cn/ .
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, those concerning our ability to penetrate the North America market as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward- looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward- looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2006 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.