New plant

-Changchun Tower Golden Ring Automotive Products Co., Ltd., which is a joint-venture company between the Company and Tower International, Inc. of the U.S.A., is establishing a new plant in Changchun. The company broke ground for the facility on June 20, 2011, aiming to start production operations in July 2012. The plant will have 12,960 square meters of building area on 42,343 square meters of land. Equipped with 6 punch press machines and 8 welding lines, it will be able to manufacture chassis assemblies for 350,000 vehicles and body frame components for 150,000 vehicles a year. (From a press release, August 2, 2011)

-ThyssenKrupp Fawer Liaoyang Spring Co., Ltd., a joint venture between the Company and Germany-based ThyssenKrupp, held an opening ceremony for its Penglai Branch on June 16, 2011. With a total investment of 140 million yuan, the Penglai facility has the capacity to manufacture 50,000 tons of automotive leaf springs and another 70,000 tons of leaf springs for heavy-duty trucks. In addition to supplying its products to customers in the Shandong Peninsula such as FAW Jiefang (Qingdao); China National Heavy Duty Truck, Jinan Truck; and Baotou Beiben Heavy-Duty Truck, Penglai Branch, it is also targeting carmakers operating in southern China. (From a press release, August 2, 2011)

-Tianjin Fawer Denso Air-Conditioner, which is a joint venture between the Denso Group and the Company broke ground on its new plant site at the Changchun Xixin Economic & Technological Development Zone, Jilin Province on May 18, 2011. Investment in this project is expected to reach 177 million yuan. The Changchun Plant, which will have a building area of 16,000 square meters, is scheduled to be completed in early 2012. The joint venture plans to ensure the capacity to manufacture 560,000 automotive air conditioners by 2015, aiming to generate 1.2 billion yuan in annual sales. Addition of the new production base will improve the delivery efficiency in supplying its products to Sichuan FAW Toyota Co., Ltd. Changchun Fengyue Company, FAW-VW and FAW Car. (From a press release, May 20, 2011)

Preparing to join the stock
-Guangdong Sunrise Holdings Co., Ltd., which has been working on a business reorganization project with Fawer Automotive Parts Limited Company, announced on August 10, 2011 that it will acquire Fawer Automotive Parts through a stock swap. Guangdong Sunrise will acquire all assets, liabilities, and business of Fawer. Upon completion of the share transfer, Fawer’s business will go public through Guangdong Sunrise. (From a press release, August 10, 2011)

Export business

-Fawer Drive Shaft Branch Company, a branch company of the Company, which exported 1 million yuan worth of drive shafts to KAMAZ of Russia in 2010, is aiming to double the amount to 2 million yuan in 2011. (From a press release, March 1, 2011)

R&D Facilities

New Production Facility Established
-ThyssenKrupp Fawer Liaoyang Spring Co., Ltd., a joint venture between the Company and Germany-based ThyssenKrupp, held an opening ceremony for its Penglai Branch on June 16, 2011. With a total investment of 140 million yuan, the Penglai facility has the capacity to manufacture 50,000 tons of automotive leaf springs and another 70,000 tons of leaf springs for heavy-duty trucks.  (From a press release, August 2, 2011)