Diesel engine giant reports rising exports

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Last updated at: (Beijing Time) Monday, December 08, 2003

Diesel engine giant reports rising exports

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Yucai Machinery Co., Ltd., China's largest internal combustion engine manufacturer in the Guangxi Zhuang Autonomous Region, has exported more than 3.7 million US dollars worth of products so far this year, double that for the whole of 2002.

Yucai, set up in 1993 and listed in 1994 on the New York Stock Exchange, exports diesel engines for automobiles, ships, power generators and engineering machinery, as well as generating units,to South America, Africa, Middle East, and other pasts of Asia. Cuba and Vietnam are among the leading importers of Yucai products.

Farm machinery, which has huge market potential both at home and abroad, is a major product of the company, which has sold 6,000 units so far this year.

From January to September this year, China's imports and exports of farm machinery reached 1.44 billion dollars, up 80 percent year-on-year, with export rising by 79.3 percent to 744 million dollars, according to the national agricultural machinery association.

This indicated Yucai's strategy to step up development and production of farm machinery would bring it more profits, a company executive said.

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