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Shaanxi Fast Auto Drive Group Company FY2008
Business Highlights
Producing transmissions for buses
- In December 2008, the Company released several types of transmissions systems for buses, launching operations in the domestic bus transmission market. The company has a large presence in the domestic heavy-duty truck transmission market, with more than 86 percent of the share in trucks that are 8-ton and larger; and 92 percent in trucks that are 15-ton and larger. In order to further develop its market presence, the company decided to release both the 8JS series (small, 8-speed transmissions/ultra-small 8-speed transmissions) and the 6DS series (6-speed transmissions) for buses. The small and lightweight 8-speed transmissions, which offer multiple speeds and improved fuel efficiency, are already being supplied to more than 10 bus manufacturers. The 6DS series is a new product offering for buses and uses a twin countershaft system developed at the beginning of 2007 based on the 8JS series technology. They are designed for a complete range of buses, from medium-sized up to large-size buses that are 12 meters and longer. (From a press release on December 12, 2008)
Acquiring business from CITIC Machinery Manufacturing
- In July 2008, the Company and CITIC Machinery Manufacturing Inc. signed an agreement under which CITIC will transfer part of its production operations to the Fast Group. CITIC Machinery is a wholly owned subsidiary of the CITIC Group, which is under the control of China's Ministry of Finance. Due to the need to restructure its business operations, CITIC Machinery decided to transfer three of its business units, namely its axle production company, forging plant, and stamping plant to the Fast Group.
R&D
<Recent development>
- 10-speed transmission series
<R&D structure>
- The Company's total amount of R&D spending per year is equivalent to approximately 5 percent of its overall sales.
- The total number of R&D staff as of December 2008 is 500
R&D Facilities
| Facility |
| Gear & Driveline Research Institute |
| Processing Research Institute |
| Product Test Labs |
| Multi-condition test road for trucks |
New facility (under construction)
| Facility | Remarks |
| Shaanxi Fast Auto Drive Engineering Technology Research Center | - This facility is being constructed jointly with Jilin University and Shaanxi Industrial Technology Research Institute |
Investment Activities
Major investment projects
| Project | Planned amount of investment | Status (as of Dec. 2008) |
| Building automatic forging lines in Caijiapo, Baoji City | 400 million yuan | The facility is almost completed |
| Establishing the Shaanxi Fast Auto Drive Engineering Technology Research Center | 600 million yuan | This facility is under construction |
| Establishing aluminum alloy die casting facility at Baoji Plant | 100 million yuan | This facility is under construction |
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