New Plants

-Changchun Faway Tong Yang Plastics Products Co., Ltd., a Company subsidiary which produces bumpers, is establishing Foshan Works in the Nanhai District, Foshan City, Guangdong Province. In March 2012, a groundbreaking ceremony was held for the new facility, which was attended by a number of officials, including the Investment Promotion Authorities of Guangdong Province and executive officers of FAW-VW. (From a press release April 9, 2012)

Joint Ventures

-The Company and Hella Shanghai Electronics Co., Ltd., a supplier of automotive electronic components, announced that they have founded a joint venture in Changchun City, Jilin Province. The joint venture expects to develop and manufacture lighting systems for the Chinese market. Due to increasingly complex lighting systems, the joint venture is also responsible for integrating electronic parts and control units. The joint venture was capitalized at 200 million yuan (25 million euro), of which 51 percent was invested by the Company and 49 percent by Hella Shanghai. The joint venture’s major clients include the FAW Group. (From a press release on February 10, 2012)

Capacity Expansion

-Changchun MANN+HUMMEL Faway Filter Co., Ltd., a filter manufacturer which is 40 percent owned by the Company, planned a 98.77 million yuan expansion project to better meet its customers’ needs and boost its market share. (From a press release on November 24, 2011)  

-Changchun Faway Gaoxin Automotive Accessories Co., Ltd. invested 55 million yuan to establish a new painting line. Changchun Faway Gaoxin Automotive Accessories, which is 51 percent owned by the Company, manufactures products such as plastic injection-molded components, electroplated components and spray painted components. (From a press release, June 24, 2011)

-Changchun Faway Tong Yang Plastic Products Co., Ltd. is investing 134.1 million yuan to expand its production capacity. Changchun Faway Tong Yang Plastic Products is a bumper manufacturer and a joint venture between the Company and the Taiwan Dong Yang Group. The company is constructing an additional plant and painting line. The investment is also being used to install an injection-molding machine. The expansion project is expected to raise the joint venture’s annual production capacity by 300,000 units on the injection-molding line and 450,000 units on the painting line. Products made at the plant are supplied to FAW Car for its passenger vehicles and to FAW-VW for the new Bora, Sagitar and Audi. (From an announcement by the company, June 1, 2011) 

R&D facilities

-In 2010, the Company started R&D activities in China in order to develop a domestic brand.

-Faway-Johnson Technical Center is the Company’s provincial-level technology center.

-The technical centers have strengthened their development in the field of automotive exteriors and have the ability to simultaneously design 3 sets of bumpers.

-Changchun Faway Johnson Controls Automotive Electronics Co., Ltd. has the ability to research and develop software and hardware.

Investment in China
-At a board meeting in September 2012, the Company decided to make an additional investment in Changchun Faway Johnson Controls Automotive Electronics Co., Ltd., its 50-50 joint venture with Johnson Controls. The joint venture is currently capitalized at 6.16 million dollars. The Company and Johnson Controls will each outlay an additional 6.1 million dollars, which will raise the joint venture’s capital to 18.36 million dollars. (From an announcement by the company, September 21, 2012)

-Changchun Faway Johnson Controls Automotive Metal Components Co., Ltd., a 50-50 joint venture between the Company and Johnson Controls, will increase its capacity to produce automotive seat frame products such as adjusters and seat rails. Due to a lack of funds, the company will ask its parent companies to invest an additional 20 million dollars. The total invested into this project is estimated at 313.13 million yuan. Sales from the joint venture are expected to reach 1,390.77 million yuan by 2016. (From an announcement by the company, August 17, 2012)

-Changchun MANN+HUMMEL Faway Filter Co., Ltd., a filter manufacturer which is 40 percent owned by the Company, planned a 98.77 million yuan expansion project to better meet its customers’ needs and boost its market share. (From a press release on November 24, 2011)  

-Changchun Faway Gaoxin Automotive Accessories Co., Ltd. invested 55 million yuan to establish a new painting line. Changchun Faway Gaoxin Automotive Accessories, which is 51 percent owned by the Company, manufactures products such as plastic injection-molded components, electroplated components and spray painted components. (From a press release, June 24, 2011)

-Changchun Faway Tong Yang Plastic Products Co., Ltd. is investing 134.1 million yuan to expand its production capacity. Changchun Faway Tong Yang Plastic Products is a bumper manufacturer and a joint venture between the Company and the Taiwan Dong Yang Group. The company is constructing an additional plant and painting line. The investment is also being used to install an injection-molding machine. The expansion project is expected to raise the joint venture’s annual production capacity by 300,000 units on the injection-molding line and 450,000 units on the painting line. Products made at the plant are supplied to FAW Car for its passenger vehicles and to FAW-VW for the new Bora, Sagitar and Audi. (From an announcement by the company, June 1, 2011) 

-The Company announced that it is increasing its production capacity at Chengdu Faway Wheel Company. Chengdu Faway Wheel was established in March 2010 to supply wheels for FAW-VW’s plant in Chengdu. The project will raise the annual production capacity of tire and wheel assemblies from 350,000 vehicles to 450,000 vehicles. The Chengdu Plant will also add a new steel wheel factory, which will be able to produce 1.2 million steel wheels annually on a double-shift system operating 250 days a year. Full scale operations are scheduled to begin in 2013. The 1.61 million yuan project will assist the company in reducing costs, expanding market share and enhancing support to FAW-VW. (From an announcement by the Company, February 19, 2011)