Sinotruk, MAN Launch Sitrak Brand

Chunji Ma, Supervisory Board Chairmanof Sinotruk, and Dr. Georg Pachta-Reyhofen, CEO of MAN SE, unveiled a new jointtruck brand for China and other growth markets in Asia, the Middle East,Africa, and the Commonwealth of Independent States (CIS).

The new truck brand will be knowninternationally as SITRAK but will be marketed under the Chinese name Shandekain China.

While sales in China will beexclusively via Sinotruk, export markets will be served by the existing salesnetworks of both MAN and Sinotruk. MAN will also participate in the sales inChina as a result of its direct interest in Sinotruk. The companies expectyearly sales to total 200,000 trucks by 2018, of which 160,000 will be sold onthe Chinese market. ??

The new brand's first product, theSITRAK T7H, was launched at the same time, and combines Sinotruk's componentsand MAN technology. The T7H is due to go into production at the Jinan site inChina in December 2011. Chinese customers will already be able to order the newtruck in the first six months of 2012, while the sale of exports is slated forthe second half of 2012. ?

Sinotruk and MAN are cooperating ontwo levels: provision of capital and transfer of technology and managementexpertise. MAN invested €560 million in Sinotruk in 2009 and has a directinterest in the Chinese manufacturer with a 25 percent stake plus one share.The transfer of technology and management expertise is based on a contractsigned by both partners regarding the granting of technology licenses. ??

"In just a short period of time,Sinotruk and MAN have developed a new truck brand, which we present to youtogether today at the Shanghai Auto Show. This day is a milestone for Sinotruk,since SITRAK will now enable us to offer our customers a Chinese truck withstate-of-the-art technology," said Chunji Ma, Supervisory Board Chairman ofSinotruk. ??MAN CEO Dr. Georg Pachta-Reyhofen added: "With SITRAK, we areadding a key element to our BRIC strategy. This heavy truck that is 'made inChina' complements MAN's product and brand portfolio perfectly. Thanks to theexcellent partnership with Sinotruk, we are able to take another important stepin MAN's global expansion today." ?