BSA to Supply Alloy Wheels to China OEM

Resource from: CBCC Likes:3034

Mar 13,2008

BSA to Supply Alloy Wheels to China OEM BSA International Bhd will supply alloy wheels to China-based Baoding Lizhong Wheel Manufacturing Co Ltd for two years beginning March 1, 2008, from which it could potentially generate up to RM121 million of annual sales. BSA’s indirect wholly owned subsidiary CAM Automotive Manufacturing (Fushun) Co Ltd (CAM Fushun) signed the agreement with Baoding, BSA told Bursa Malaysia yesterday. Under the agreement, which can be extended upon expiry on a yearly basis, Baoding will supply aluminium ingots to CAM Fushun for the production of the alloy wheels. CAM Fushun in turn will supply at least 25,000 and up to 100,000 alloy wheels per month to Baoding. “Based on estimates, CAM Fushun is expected to generate annual sales from the contract of between RMB70 million (or approximately RM31 million) and RMB280 million (or approximately RM121 million). “In addition, the supply of aluminium ingots by Baoding under the contract for the production of the alloy wheels by CAM Fushun would enable CAM Fushun to minimise its working capital requirements,” it said. Baoding is a subsidiary of Singapore-listed Lizhong Wheel Group Ltd, formerly known as China Wheel Holdings Ltd, whose subsidiaries are mainly original equipment manufacturers involved in manufacturing and sale of aluminium alloy wheels to car manufacturers.

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