Brussels-based Westinghouse Air Brake Co (WABCO) has more than
doubled its investment in its Qingdao factory to meet projected
demand for automotive parts, mainly for heavy-duty vehicles.
WABCO has invested US$19 million to expand its manufacturing
facilities in Shandong Province's Qingdao, said Liu Liang, its
Asia-Pacific president. The Qingdao factory was established in 2004
with an initial investment of US$16 million. The company entered
the China market in 1996 with a joint venture in Jinan, also in
Shandong.
"China is one of our key engines for global expansion, and we
are speeding up our efforts to follow the Chinese market's fast
development," said Liu.
WABCO's sales in China have maintained an annual average growth
of 50 percent over the past few years, while its growth rate in
global markets was about 8 percent a year. For the Asia-Pacific
region, sales grew at an average 12 percent.
WABCO is a global manufacturer of electronic braking systems,
computerized stabilizers, suspension and transmission control
systems for commercial vehicles.
China is the largest single market for WABCO, Liu said. The
nation produces more than 600,000 heavy-duty commercial vehicles
every year - more than either Europe or North America. WABCO's
market share of anti-lock braking systems (ABS) in China has been
maintained at 60 to 70 percent in the past couple of years, Liu
said. WABCO has been a pioneer in the development of ABS in
cooperation with DaimlerChrysler since 1981.
Liu predicted the demand and yield of commercial cars in China
will rocket with next year's Beijing Olympics and the 2010 World
Expo.
(China Daily September 1, 2007)
