OREANDA-NEWS. October 20, 2014. China Yuchai International Limited ("China Yuchai" or the "Company") announced that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") has divested its entire 70% shareholding interest in Jining Yuchai Engine Company Limited ()Jining Yuchai"), its diesel car engine manufacturing joint-venture with Zhejiang Geely Holding Group Co., Ltd.   

Jining Yuchai was established in 2008 to develop and manufacture diesel engines for passenger vehicles in China. GYMCL made the decision to exit from this joint-venture after discussions with the other shareholder in Jining Yuchai.

The financial impact of this divestiture is being evaluated by the Company and will be announced when it has been determined.

About China Yuchai International

China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, the Company distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in China with high-quality products and reliable after-sales support. In 2013, GYMCL sold 500,756 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com