Mudan Bus Starts a New Sail
18 June 2009
On Jun. 16, 2009, Mudan Automobile Co., Ltd. held a grand ceremony to celebrate the rollout of its first new bus model after it was acquired by Chengdu Newland Automobile Co., Ltd. in 2008,
New Mudan buses delivered to their customers
Having been in operation for over three decades, the bus builder was once the largest enterprise in China’s bus & coach industry, boasting an annual production capacity of 3,000 units of various types of buses & coaches.
In 2001, Mudan Automobile Co., Ltd. was successfully listed in Hong Kong Growth Enterprise Market, marking the first among its domestic counterparts to enter Hong Kong Stock Exchange. At the time, the company held total assets worth RMB 1.112 billion (about USD 162,614 million) and boasted a workforce of over 2,200 employees. With an annual sales volume of nearly 10,000 units, it was once dubbed as the King of Midi-bus.
In 2004, Mudan Automobile made a strategic move by adjusting its product spectrum, thus forming three divisions in its bus & coach business, namely long-distance coach, city bus and midi-bus. However, due to the intense market competition, the bus builder suffered financial losses for several consecutive years. By Oct. 2007, the company was on the verge of bankruptcy. In Jun. 2008, Chengdu Newland Automobile Co., Ltd. acquired Mudan Automobile by taking 68.9% of its total shares.
Mudan MD6703 buses on their road to customers
After the acquisition and restructuring, the new Mudan Automobile boasts an annual production capacity of 50,000 units of buses, including 20,000 units of 6-7 meter midi-buses and 10,000 units of 8-12 meter coaches. Moreover, the company has also introduced a new batch of state-of-art production facilities in a bid to strengthen the competitiveness of its light-duty buses. Currently, the bus builder is also planning to add luxury double-decker and other new bus models into its product line. Apart from making efforts in its bus production, the company has also been actively involved in strengthening its marketing and service efforts. To date, Mudan Automobile has set up its sales office and post-sale service stations across China.
Source : english.chinabuses.com
Editor : Mark
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