Chinese Car Part Firm Signs USD35.1 Million Exhaust Manifold Supply Deal With GM
Xu Wei
DATE:  Aug 31 2017
/ SOURCE:  Yicai
Chinese Car Part Firm Signs USD35.1 Million Exhaust Manifold Supply Deal With GM Chinese Car Part Firm Signs USD35.1 Million Exhaust Manifold Supply Deal With GM

(Yicai Global) Aug. 31 -- Henan Province Xixia Automobile Water Pump Co. [SHE:002536] said yesterday that it has signed a contract with General Motors Co. [NYSE:GM] to supply USD35.1 million (CNY235 million) worth of its exhaust manifold products to the latter over a three-year period.

Xixia Automobile Water Pump will provide exhaust manifolds to GM from 2018 to 2020 with expected sales revenue of CNY140 million, CNY85.45 million and CNY9.29 million in 2018, 2019 and 2020, respectively.

The supply contract will not affect the Chinese firm's financial status or operating results this year. Xixia Automobile Water Pump's operating income was CNY2.085 billion last year. The company said that the average annual operating income of the supply deal accounts for 3.76 percent of its 2016 operating income and will not affect the company's commercial independence.

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Keywords:   Xixia Automobile Water Pump,General Motors