CRCC Successes In Reorganizing The CSCTRUCK Factory

1st,May,2019.CSCTRUCK factory Changed it’s Holding Company form XGMA to CRRC Corporation Limited (CRRC) a State-owned enterprise which famous for produce High Speed Train (CRH), Bullet Train. The M&A between CSCTRUCK and CRCC start negotiating since October,2018. CRCC controls roughly 90% of its special vehicle Corp CSCTRUCK.

In the early of 2018, when CSCTRUCK belongs to XGMA Company, during the time the representatives of the CRCC company have visited CSCTRUCK many times for negotiating the purchase.

January,2019, CRCC. and CSCTRUCK completed the enterprise restructuring,tet up a joint venture company-CRCC & CSCTRUCK Co., Ltd. CSCTRUCK will rely on the brand advantages in special truck industry of  technology, channels and other aspects, and strive to develop to a new level, and strive to achieve CNY5,000,000,000 planning goals withiin 5 years.

This year, CRCC & CSCTRUCK Co., Ltd will invest 200 million yuan to carry out the third stage of project construction, currently,processed in the relevant procedures for government approval. The project land of 270,000 sqm, will be built factory plant 70,000 square meters, will set of new fire truck production workshop, low-temperature pressure Vessel Production workshop, new product trial workshop, environmental protection coating production line, etc., for capacity improvement, new product development, etc., is expected to be completed within the year. After the completion of the project, the company's production capacity will reach 30,000 units, operating income will reach 5 billion yuan, the annual realization of tax revenue billion yuan.

CRCC points out will set CSCTRUCK as the group's National Commercial Vehicle Base, set up a Special Vehicle Research Institute, increase development and reserach in New Eergy Vehicles range. A series of formalities, such as subsequent changes in company names, are being processed ... Expect a stronger CSCTRUCK in furture.