Fawer Automotive Parts Limited Company - FY2007

Business Highlights

<Joint ventures>
Joint venture with JTECT
- In April, 2007, FAW-Koyo Steering System Co., Ltd. (FKS) held a groundbreaking ceremony at the site of its second plant in the Changchun Automotive Industry Development Area. FKS has invested approximately 400 million yuan in the new plant, which is scheduled to be completed in 2011. When this second facility is fully operating, FKS will be able to manufacture 1.7 million power steering systems and generate sales of 1 billion yuan per year.