On July 17th, the reorganization ceremony for the reorganization of SINOMACH and Changzhou Automobile Parts Co., Ltd. (hereinafter referred to as Changjiang Electric Parts Co., Ltd.) was held at the headquarters of Beijing Guoji Group. According to the approval of the State-owned Assets Supervision and Administration Commission of the State Council on the transfer of 100% of the state-owned shares of Changchun Electric Parts Co., Ltd., Changdian Electric Parts Co., Ltd. officially became a wholly-owned subsidiary of the State Machine Group.
Changzhou Electric Parts Co., Ltd. (established in January 2005, the company was formerly known as Changsha Automobile Electrical Factory, was established in 1957, during which it used the name of Zhongqi Changjiang Electronics Co., Ltd.) and specialized in automotive generators, starters and other products. R&D, manufacturing and sales are the only large-scale enterprises directly under the central government in China's automotive electrical industry, and have long been leaders in the industry. Since the reform and opening up, Changzhou Electric Parts Co., Ltd. has continuously introduced, absorbed and digested the most advanced international development technologies, manufacturing processes, production equipment, and quality assurance systems. The products have covered European and American car lines, Korean-Japanese car lines, and various diesel engines. China has the most complete and most widely-owned manufacturers of automobile starters and generators. In 2002, Changzhou Electric Parts Co., Ltd. decentralized its production and operations for a variety of reasons.
The reorganized Long Electric Parts Company will serve as the main manufacturing enterprise of the SINOMACH automotive segment. It will focus on auto parts manufacturing technology, and will be led by automotive electrical products to extend and expand into auto parts and other related emerging industries. Build a pattern of diverse and balanced industry development.
Xu Jian, president of SINOMACH, said that the reorganization of LONG PARTS is not only a new starting point for SINOMACH to expand the auto parts industry, but also for SINOMACH to promote the optimization and reorganization of enterprise resources and speed up the implementation of SINOMACH's automotive business. Another important measure for the development strategy of the sector; the future of the SINOMACH Group will support Changzhou Electric Parts Co., Ltd. in terms of capital, technology and market channels.
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