Thursday, June 02, 2011

MAN + Sinotruk = SITRAK

MAN + Sinotruk = SITRAK

The Auto Shanghai 2011 motor show saw Chunji Ma, Supervisory Board Chairman of Sinotruk, and Dr. Georg Pachta-Reyhofen, CEO of MAN SE, unveil a new joint truck brand for China and other growth markets in Asia, the Middle East, Africa, and the Commonwealth of Independent States (CIS).

SITRAK
SITRAK
  • First product SITRAK T7H for China and emerging markets
  • Production to start in December 2011, selling to start in the first half of 2012
  • Sales of 200,000 units by 2018 projected
The new truck brand will be known internationally as SITRAK but will be marketed under the Chinese name Shandeka in its home market of China. Three stylized ginkgo leaves, which symbolize endurance and vitality in Asia, act as the logo. The brand names stand for the good partnership between MAN and Sinotruk. While sales in China will be exclusively via Sinotruk, export markets will be served by the existing sales networks of MAN and Sinotruk. MAN will also participate in the sales in China as a result of its direct interest in Sinotruk. The companies expect yearly sales to total 200,000 trucks by 2018, thereof 160,000 for the Chinese market.

Sinotruk and MAN showcased the new brand’s first product, the SITRAK T7H, at their joint trade fair stand in Shanghai. The heavy-duty T7H truck combines Sinotruk’s components and MAN technology. The T7H is due to go into production at the Jinan site in China in December 2011. Chinese customers will already be able to order the new truck in the first six months of 2012, while the sale of exports is slated for the second half of 2012.

Sinotruk and MAN are cooperating on two levels: provision of capital and transfer of technology and management expertise. MAN invested €560 million in Sinotruk in 2009 and has a direct interest in the Chinese manufacturer with a 25% stake plus one share. The transfer of technology and management expertise is based on a contract signed by both partners regarding the granting of technology licenses.

MAN went into partnership with the Heavy Duty Truck Corporation (today Sinotruk) back in 1983 for the construction and licensing of Steyr trucks. Sinotruk and MAN are thus united by a long history of working together. Trust is the very backbone of this cooperation.

“In just a short period of time, Sinotruk and MAN have developed a new truck brand, which we present to you together today at the Shanghai Auto Show. This day is a milestone for Sinotruk, since SITRAK will now enable us to offer our customers a Chinese truck with state-of-the-art technology,” said Chunji Ma, Supervisory Board Chairman of Sinotruk.

MAN CEO Dr. Georg Pachta-Reyhofen added: “With SITRAK, we are adding a key element to our BRIC strategy. This heavy truck that is ‘made in China’ complements MAN’s product and brand portfolio perfectly. Thanks to the excellent partnership with Sinotruk, we are able to take another important step in MAN’s global expansion today.”

About the companies
MAN is one of Europe’s leading industrial players in transport-related engineering, with revenue of approximately €14.7 billion in 2010. As a supplier of trucks, buses, diesel engines, turbomachinery, and special gear units, MAN employs approximately 47,700 people worldwide. Its divisions hold leading positions in their respective markets. MAN SE, Munich, is listed in the DAX equity index, which comprises Germany’s thirty leading stock corporations.

Sinotruk is one of the largest truck manufacturers worldwide and is one of the few producers in China that can look back on a fifty-year history. Sinotruk is considered a heavy truck specialist, especially in China, but has significantly expanded its activities in recent years to include light commercial vehicles and construction vehicles. In 2010 the CNHTC Group generated revenue of €8.05 billion. It also sold around 200,000 trucks, 60% more than in the previous year.

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