China Automotive Systems Awarded "National Excellent Supplier of Steering Systems"
WUHAN, China--Jan. 24, 2013: China Automotive Systems, Inc. ("CAAS" or the "Company") , a leading power steering components and systems supplier in China, today announced that at the 9th National Top 100 Excellent Auto Parts Suppliers Awards in Beijing, CAAS's subsidiary, Hubei Henglong, was named as the "National Excellent Supplier of Steering Systems" in China by the China Automotive News.
Hubei Henglong is a leading supplier of circulating ball power steering, rack and pinion power steering, and electric power steering. This is the second recent acknowledgement of Hubei Henglong's excellence as it was named as the "Leading Enterprise in the Chinese Auto Parts Automobile Steering" by the China Association of Automobile Manufacturers (CAAM) in 2010.
Mr. Hanlin Chen, Chairman of China Automotive Systems, commented, "Power steering systems are one of the key safety-related components in any vehicle. This award speaks volumes to our strong production management combined with our expanding research and development program to maintain our quality and technology leadership in the Chinese domestic steering industry. As the Chinese automotive industry remains fragmented, OEMs rely on component suppliers who most quickly develop products with the required performance and qualities, combined with timely deliveries and excellent service. Our ability to design high-quality products and deliver large volumes at a fast pace has enabled us to build close relationships with our OEM customers. Few domestic steering producers possess our size and capabilities to be a long-term competitor in the Chinese steering market even as we begin to penetrate the global markets."