Wonder Auto Granted a Three-Year Contract by a Foreign Company
A three-year supply contract was made between Wonder Auto Technology, Inc., China’s leading producer of automotive electrical and suspensions parts, and a foreign auto company. The contract specifies that Wonder Auto is projected to provide the Shanghai-registered global automotive parts procurement center about 800,000 automotive alternators. All of the supplied alternators will then be exported out of the country to a large-scale international automotive manufacturer. The three-year contract value is estimated to reach approximately $32 million with an approximate value of $11 million for each year.
According to Mr. Qingjie Zhao, the Chairman and CEO of Wonder Auto, “This contract marks one of the most exciting milestones yet in the current stage of Wonder Auto’s continuing growth. Our selection to supply this major global auto parts center is another indicator of our growing reputation for delivering high-quality, cost-effective products in large quantities. This new contract complements our recent agreement to supply the European aftermarket and the opening of our Detroit office as we position Wonder Auto as an emerging force in the global auto parts marketplace.”
Mr. Zhao concluded the statement saying, “With this large new customer and the other new and existing customers, we are optimistic that our anticipated sales in 2008 could exceed $140 million, with over $20 million in net income.”
Wonder Auto Technology, Inc. is based in the city of Jinzhou in Liaoning Province of China. The company has made its expertise and dedication in manufacturing, designing and development of automotive electrical and suspension parts. It also supplies industries for Aftermarket Performance Parts and other products. Wonder Auto ranked as the second biggest producer of alternator and starter in 2006 in the Chinese market.
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