First Chery Contract for GKN Driveline Torque Technology
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SHANGHAI, China, Aug. 7 / -- GKN Driveline Torque Technology has been awarded a contract to supply power transfer units (PTUs) to Chery, China's largest independent car manufacturer.
The contract is for an SUV due for launch in 2009. The new PTU is planned to be assembled at GKN Driveline Torque Technology's new Kangkiao manufacturing facility. Components will be primarily sourced in China, except for the hypoid gear set, which will be produced in the company's Nagoya facility in Japan.
PTUs provide full-time or on-demand torque distribution for front-wheel- drive-based all-wheel-drive vehicles. GKN is a world-leading independent supplier of PTUs with annual production targeted to exceed 500,000 units for the first time in 2007.
"We are delighted to have won this contract which builds upon our existing strong commercial and engineering links as GKN Driveline is already a key supplier of sideshafts to Chery," said Graeme Walford, managing director, GKN Driveline Torque Technology. "This is another PTU contract win for us in the fast-growing Asia-Pacific region and it further supports our global growth strategy."
Chery, ranked number four in terms of passenger-vehicle production in China, is one of the fastest growing automakers in the world. Vehicle production last year was over 305,000, of which approximately 50,000 were exported.
GKN Driveline was the first global automotive components company to form a joint venture in China. Today, GKN Driveline is a global enterprise with 21,000 people working at more than 40 locations in over 30 countries. The company recorded sales of 2 billion pounds Sterling in 2006. Recognized as the auto industry's leader in the design and production of driveline components, GKN Driveline provides driveline solutions from the smallest front-wheel-drive vehicles up to the most sophisticated four-wheel-drive models. The company has a commanding share of the global market for CVJ (constant velocity joint) sideshafts and also is a leading global producer of all-wheel-drive PTUs and torque management devices.
Further information is available at www.gkndriveline.com.
Source: GKN Driveline
CONTACT:Company Contact, Paul Dinwiddy, Communication Director of GKN Driveline, + 44-1527-533-646, cell, + 44-7801-077-523, paul.dinwiddy@gkndriveline.com; Media, Americas, Larry Weis, lweis@usautocom.com, or Jen Howell, jhowell@usautocom.com, both of AutoCom Associates, +1-248-647-8621, or Simon Pearson, +44-207-861-3158, cell, +44-7836-744-192, simon@s-pearson.com; Yoshinori Yamaguchi, Inoue Public Relations, +81-03-5269-2301, yamaguchi@inoue-pr.com, all for GKN Driveline
Web site: www.gkndriveline.com/
