NASDAQ, SORL - Sorl Auto Parts Inc
Through its 90% ownership of the Ruili Group Ruian Auto Parts Co., Ltd., a
sino-foreign joint venture (the ?Joint Venture?), SORL Auto Parts, Inc. (the
?Company?) develops, manufactures and distributes automotive air brake valves
and related components to automotive original equipment manufacturers, or OEMs,
and the related aftermarket both in China and internationally. Installed on the
chassis, air brake valves include a collection of various air brake components
using compressed air and functioning as the execution device for service braking
and parking braking. The Company?s products are principally used in commercial
vehicles weighing over three tons, such as trucks and buses. Air brake valves
are critical components that ensure driving safety.
The Joint Venture was formed in China as a sino-foreign joint venture on January
17, 2004, pursuant to the terms of a Joint Venture Agreement (the ?JV
Agreement?) between the Ruili Group Co., Ltd. ...
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