Fuyao Industry Group Co. Ltd., China“s largest auto glass maker, will open an overseas manufacturing base in the next three to five years, its president said.
“The plant will further expand our busi…
Fuyao Industry Group Co. Ltd., China“s largest auto glass maker, will open an overseas manufacturing base in the next three to five years, its president said. “The plant will further expand our business growth in the overseas market”, said Cao Tok-wong, without naming a location. Cao said overseas markets contributed almost 35% of Fuyao“s CNY 3.67 billion in sales in the first three quarters, while its overseas original equipment manufacturer (OEM) business grew by 152%. The company, based in Fuqing of Fujian Province, is the fourth largest autoglass manufacturer in the world, with offices in the United States, Japan, South Korea, Australia, Russia and Europe. The company has plants in Changchun, Shanghai, Chongqing, Beijing and Guangzhou, and float glass facilities in Fujian, Jilin, Inner Mongolia and Hainan. Analysts said Chinese firms were increasingly moving manufacturing offshore to avoid trade disputes and lower costs. “It is a logical step. But what we are more concerned about is delivering our products more efficiently overseas, as there is huge demand for vehicle glass of high quality on the international market”, Cao said. Fuyao is an OEM supplier to well-known auto marques in China and has a market share of more than 50%. It has been approved by eight international carmakers and supplies OEM products to Audi, Bentley, VW, GM, Ford, Toyota, Honda, Nissan, PSA, Volvo, Hyundai and DaimlerChrysler.