On July 25th, 2014, a joint venture project of "Fast Eaton (Xi'an) Power Transmission System Co., Ltd.", a Sino-foreign joint venture high-tech enterprise jointly established by Shaanxi Fast Gear Co., Ltd. and Eaton Corporation, the world's leading power management company, was Xi'an held a signing ceremony. The two parties announced that they will cooperate in the development, production, assembly, testing, sales and service of clutches and clutch-related components of commercial vehicles, passenger cars and other suitable application platforms, and make joint efforts to achieve win-win development.
This is another international cooperation in the new field after Fast has established good strategic cooperation with world-renowned brand companies such as Caterpillar, WABCO and UK Shell.
Faster Eaton (Xi'an) Power Transmission System Co., Ltd., a joint venture between Fast and Eaton, has a total investment of 100 million yuan (of which 50% of total equity is used by Fast, and Eaton’s total share capital 49%).
Chairman of the Fast Group Corporation and Party Secretary Li Dakai delivered speeches
"The transmissions and clutches are the two most closely related products in the automotive transmission system. Fastett and Eaton form a joint-venture clutch plant that will maximize the synergy effect of transmissions and clutches." .
Shaanxi Fast Gear Co., Ltd. is China's largest professional manufacturer and export base for commercial automotive transmissions, retarders, synchronizers, power take-offs, speed reducers, gears, and castings and forgings. It has more than 10 controlling and joint-stock subsidiaries, a wholly-owned factory in Thailand, and a distribution company in the United States. All operating indicators ranked first in China's gear industry for eleven consecutive years, and annual sales of heavy-duty vehicle transmissions ranked first in the world for eight consecutive years. The products have been selected as fixed-point supporting products by thousands of vehicle models from domestic and foreign OEMs, and are widely exported to more than 10 countries and regions including the United States, Australia, Eastern Europe, South America, Southeast Asia, and the Middle East.
Speech by Da Wenkai, President of Eaton’s Vehicle Group
Eaton Corporation is a leading global power management company with sales of $22 billion in 2013. Eaton is committed to providing a variety of energy-efficient solutions to help customers manage electricity, fluid power, and mechanical power more efficiently, safely, and sustainably. Eaton has more than 103,000 employees worldwide and its products are sold in more than 175 countries and regions. Eaton has a number of unique technology patents in commercial vehicle transmissions, clutches, engine superchargers, and engine valves, and is at the top level in the world.
Fast and Eaton have a 30-year history of cooperation and both sides have established a profound friendship and a solid foundation for cooperation. The strong combination of high-end clutch products not only reflects the mutual trust and support of both parties, but also gives full play to the leading edge of Eaton clutch technology, the advantages of quality brands, and Fast Manufacturing's manufacturing, cost control, customer development, and market brands. And comprehensive competitive advantage in sales services.
It is understood that the joint venture company will build a factory in Xi'an High-tech Zone. "Hopefully, Fast Eaton (Xi'an) Power Transmission System Co., Ltd. has rapidly grown into a mainstream clutch supplier for medium and heavy commercial vehicles at home and abroad, providing better products and services to market users." For the future of the joint venture company, Fache Li Dakai, chairman of the special group, placed deep expectations.
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