China Automotive Systems' Test Center Becomes Only Nationally Accredited
Laboratory Among Power Steering Companies
WUHAN, China, Jan. 28, 2013
WUHAN, China, Jan. 28, 2013 /PRNewswire-FirstCall/-- China Automotive
Systems, Inc. ("CAAS" or the "Company") (NASDAQ: CAAS), a leading power
steering components and systems supplier in China, today announced that
theCompany's Jingzhou Henglong Automotive Technology (Test) Center Laboratory
("Lab") recently received its national accreditation from the China National
Accreditation Service ("CNAS"), making it the only such approved lab among
power steering companies.
Based on the regulations and guidelines of the CNAS-CL01: 2006 "Accreditation
Criteria on Testing and Calibrating Experimental Capabilities" (ISO/IEC
17025:2005), the Lab successfully established and operated a comprehensive
laboratory quality management system, and established a team of experienced
research professionals to sustain the optimal operation of the system. The Lab
continues to enhance its management systems and technological capabilities by
adding personnel, equipment, and materials while improving the methods used
and the operating environment.
CAAS employs over 295 engineers and has over 85 Chinese patents and 2
trademarks. Its research and development activities include product design and
testing, materials research, quality control inspection, production equipment
design and modification, a calibration room and a vehicle test track.
Mr. Hanlin Chen, Chairman of China Automotive Systems, commented, "This
national accreditation demonstrates the recognition of our Lab's growing
sophistication to meet global testing standards. We have invested
significantlyin state-of-the-art equipment and analytical processes combined
with personnel with advanced degrees, to build the most powerful research and
development lab in the domestic steering industry. Our ability to very quickly
develop high-quality products to meet our customers' needs and to efficiently
manufacture them has driven our success. This accreditation enhances the
credibility of our Lab and this advantage will provide even greater confidence
in our products as we further penetrate current international markets and
expand our global presence."
About China Automotive Systems, Inc.
Based in Hubei Province, the People's Republic of China, China Automotive
Systems, Inc. is a leading supplier of power steering components and systems
to the Chinese automotive industry, operating through eight Sino-foreign joint
ventures. The Company offers a full range of steering system parts for
passenger automobiles and commercial vehicles. The Company currently offers
four separate series of power steering with an annual production capacity of
over 3.8 million sets of steering gears, columns and steering hoses. Its
customer base is comprised of leading auto manufacturers, such as China FAW
Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi
Foton Motor Co., Ltd., and Chery Automobile Co., Ltd. in China and Chrysler
North America in North America. For more information, please visit:
This press release contains statements that are "forward-looking statements"
as defined under the Private Securities Litigation Reform Act of 1995.
Forward-looking statements represent the Company's estimates and assumptions
only as of the date of this press release. The Company's actual results may
differ materially from the results described in or anticipated by these
forward-looking statements due to certain risks and uncertainties, including
those described under the heading "Risk Factors" in the Company's Annual
Report on Form 10-K as filed with the Securities and Exchange Commission on
March 9, 2012, and in documents subsequently filed by the Company from time to
time. The Company expressly disclaims any duty to provide updates to any
forward-looking statements made in this press release, whether as a result of
new information, future events or otherwise.
For more information, please contact:
Chief Financial Officer
China Automotive Systems, Inc.
SOURCE China Automotive Systems, Inc.
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