Yutong exports more buses to Cuba

Zhengzhou Yutong Group Co. Ltd<600066>, one of China's leading bus manufacturers in Henan province, has delivered 200 mass transit buses to Cuba.

According to the Sino-Cuban export agreement, Yutong will export 5,348 buses or coaches to Cuba from 2007 to 2009. Yutong will first transport the buses worth RMB 300 million (US$37.5 million) to Lianyugang, a port in North China and then ship them to Cuba.

Yutong began to export coaches to Cuba in 2005 and by late 2006. The company exported over 1,200 coaches to the Caribbean nation. Its market share in the country is 98%, according to sources. It also exports coaches to other countries and regions in the Middle East, Africa and South Asia.

Yutong is a large-scale enterprise group with bus manufacturing as the core business. It also involves in engineering machinery and real estate as well as other investment businesses. The company was listed on Shanghai Stock Exchange since 1997. Yutong gained over RMB 10.14 billion (US$1.27 billion) in sales last year.