SAF-Holland says it has secured a further “large order” for truck suspension systems in China.
The order and an earlier one from the same unnamed manufacturer in December, 2015, will make a combined annual contribution of up to EUR23m (US$25.6m) to Group sales after ramp up.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The contract period is expected to span 10 years and production at SAF-Holland subsidiary Corpco, China, will begin in 2018.
“The fact we have won another large reference contract for truck suspension systems within a couple of months shows our Corpco subsidiary is on its way to making a name for itself in the market for truck suspension solutions after already establishing itself as a supplier for bus air suspension systems,” said SAF-Holland CEO, Detlef Borghardt.
“We also benefit from the growing technological demand placed on these products and the discernible trend towards transportation solutions that provide greater comfort and are helping to prevent the road network from being damaged.
“Carried by our new projects and market share gains, we are well on track to gradually turn our sales targets for China under our Growth Strategy 2020 into a reality.”
The Group in the China region focuses on manufacturing bus air suspension systems at its subsidiary Corpco in Beijing as well as trailer axle systems at its site in Xiamen.
