ARADEX wins Weichai Power as strategic Investor
Hong Kong / Lorch, 16 December 2019 - Weichai Power Co., Ltd. ("Weichai Power" or "the Company", HKEX: 2338, SZSE: 000338) has announced its strategic acquisition of ARADEX AG, another global strategic attempt in the new energy power systems industry following its strategic investment in Ballard Power and Ceres Power. Weichai Power has not only mastered key technologies of traditional powertrain for heavy duty commercial vehicles so far, but also successfully integrated "battery, motor and electronic control" into a whole new energy power system to propel the whole industrial chain, coupled with the power of ARADEX AG. Those achievements paved the way for Weichai Power to be "a global leader in new energy industry by 2030"- its strategy planning, in terms of advanced product and technology.
Since founded in 1989, ARADEX AG has been committed to the R&D of motor, electric control and power supply for industrial and transportation industry, and now has become a pioneer in high power variable frequency and power supply equipment technology. ARADEX AG commands powerful design and development and system integration capabilities in terms of various CNC servo motor and servo driver, new energy commercial vehicle motor controller, motor, fuel cell DC/DC converter and other products. Hundreds of successful application cases build a good reputation for those excellent products with design life exceeding 30000 hours.
Both parties will strive collaboratively and synergize fully to develop new energy commercial vehicle power system. ARADEX AG will expand and grow on the synergies of Weichai Power's global complete vehicle and machinery, core components of power system and global R&D innovation center and other resources, and Weichai Power is expected to facilitate industrial upgrading and restructuring with the contribution from ARADEX AG. Both parties' deep integration helps to boost energy conservation and emission reduction, and provide sustainable power to protect clear sky and white clouds for all human beings.
About Weichai Power Co., Ltd. (HKEX: 2338, SZSE: 000338)
Founded in 2002, Weichai Power Co., Ltd. ("Weichai Power" or "the Company") is one of the largest car parts and power system conglomerates in China. Its clusters include dozens of quality companies such as Shaanxi Heavy-duty Motor Company Limited, Shaanxi Fast Gear Co., Ltd., KION Group AG, Linde Hydraulics GmbH & Co. (KG) and Dematic. The Company's business covers three major segments: vehicles and machines, powertrain and smart logistics, formulating the most complete and the most competitive industry chain in the automobile industry across China. Weichai Power was listed on the Main Board of the Stock Exchange of Hong Kong on 11 March 2004 and on the Shenzhen Stock Exchange on 30 April 2007.
Issued by: Weichai Power Co., Ltd.
For media enquiries, please contact Mark Oliver Utz Phone: +49 7172 / 9181-0 firstname.lastname@example.org
This press release contains forward-looking statements relating to the business outlook, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this announcement. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. The forward-looking statements may prove to be incorrect and may not be realized in future. Underlying the forward-looking statements are a large number of risks and uncertainties. Further information regarding these risks and uncertainties is included in our other public disclosure documents.