LOI of Semitrailer Cooperation is signed between Dongfeng Motor Company Ltd. and Schmitz Cargobull AG

Shanghai, (PresseBox) - Hereby, Dongfeng Motor Company Ltd., China's largest automobile joint venture, officially signs the Letter of Intent regarding the semitrailer cooperation project with Schmitz Cargobull AG. Both parties agree to establish a joint venture company, dedicating in the manufacture and sales of semitrailer.

The LOI is signed by the management - represented by Andreas Schmitz and Ulrich Schöpker (both Board Members of Schmitz Cargobull AG) and Huang Gang (Representative of Dongfeng Motor Company and General Manager of Dongfeng Commercial Vehicle). The signing ceremony also has the attendance of Tong Dongcheng, Deputy General Manager of Dongfeng Motor Corporation and Vice President of Dongfeng Motor Company.

On the signing ceremony, Huang Gang, General Manager of Dongfeng Commercial Vehicle, states, "Dongfeng is the leading truck manufacturer in China and Schmitz Cargobull the leading semitrailer manufacturer in Europe. The combination of the best truck with the best semitrailer will provide the greatest value for our customers with a one-stop shopping solution".

Schmitz Cargobull Board Member Andreas Schmitz states, "we are seeing a great opportunity brought by the growing transport market of China. The initial goals of the joint venture consists of high-quality production according to state-of-the-art industrial standards as well as a dense sales and service network with innovative services in the People's Republic of China."

Schmitz Cargobull Board Member Ulrich Schöpker states, "with Schmitz Cargobull's innovative know-how in the trailer construction sector and Dongfeng Commercial Vehicle's own customer-specific know-how in China's markets, we want to complement the advantages of both parties and pursue the expansion together in China's markets".

Background

Dongfeng Motor Company, established in 2003 by Dongfeng Motor Corporation and Nissan Motor Company with a 50:50 equity structure, is the largest automobile joint venture in China up to date. Dongfeng Commercial Vehicle Company is a medium and heavy-duty commercial vehicle business division under Dongfeng Motor Company and has 42 years history in manufacturing vehicles. Its sales volume of 2010 is 313 thousand vehicles, among which 249 thousand are middle and heavy trucks. After 8 years joint operation, the company has now developed to the largest medium and heavy truck manufacturer of China.

Schmitz Cargobull AG

Schmitz Cargobull AG, established in 1892 in Germany, is a leading semitrailer manufacturer of Europe. It produces products at seven industrial manufacturing sites in Europe, and serves all of the sales markets in Europe, the Near and Middle East with its own sales structure and an authorised service partner network. The turnover is approx. 1.2 billion euros for the 2010/2011 business year (01.04. - 31.03.), Schmitz Cargobull is the European market leader. In the 2010/2011 business year Schmitz Cargobull produced approximately 36,000 vehicles and possesses a production capacity of approximately 110,000 units.

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