Changchun FAW-Sihuan Automobile Co., Ltd. Highlights for FY2006
- Sales increased year-on-year, supported by the Company's efforts to develop new markets at home and abroad.
|Net profit||1.80||(120.95)||- Gross profit and net profit jumped from what they were last year as a result of the Company's cost cutting initiatives.|
- In fiscal year 2006, the Company sold 3,001,600 sets of wheels, up 86
percent from the previous year's sales volume.
- In fiscal year 2006, the Company exported 854,600 sets of wheels, marking a record-high volume of exports in its history.
New OEM supply agreement
- In December 2006, Chang-chun FAW Sihuan Automobile Co., Ltd. Wheel Company was awarded a contract from Italy-based Iveco, under which it will develop and provide all the wheels required by Iveco's Chinese operations. Chang-chun FAW Sihuan Automobile Co., Ltd. Wheel Company will begin producing wheels for Iveco in 2007.
|Constructing a new production line at Changchun Fawer-Johnson Controls Automotive Systems Co., Ltd. to manufacture seats for the Magotan, FAW-VW's new vehicle model.||
Production started in March 2007.
|- Changchun Fawer-Johnson Controls Automotive Systems Co., Ltd building a new plant in Changchun Economic and Technological Development Zone.||
The plant is under construction