Iveco Awarded ‘Top Investor in China’
The Italy - China Foundation and Milano Finanza have conferred to Iveco the "Top Investor in China" Award, a prestigious honour that is awarded to companies that have seized the opportunities offered by the relations between Italy and China.
To receive the award was Oscar Groet, Iveco Vice President, Business Development & New Markets, yesterday evening in Milan, in the splendid rooms of Palazzo Mezzanotte, as part of an evening in aid of charity, whose proceeds will be donated to Lifeline Express, a non-profit organisation providing free care and surgery for people suffering with cataracts by means of hospital trains that travel in the more remote regions of China.
Iveco was among the first Western companies to invest in China. The first collaboration dates back to 1985 when it signed a licensing agreement with NAC for the production of Iveco Daily light commercial vehicle. In 1996, the agreement was transformed into a 50 – 50 partnership with the birth of Naveco.
In 2006 Iveco became a partner of NAC for the production of medium vehicles and at the same time began a partnership with Saic for the production of heavy-duty vehicles and engines.
Saic, a leader in the Chinese automotive sector, acquired NAC at the end of 2007 and became the sole partner with Iveco.
China is already today the largest market in the world for Commercial vehicles, with an estimated volume of 3.2 million units for 2009.
The Iveco strategy in China is based on three fundamental pillars : the objectives of the Iveco Joint Ventures are to grow in the domestic market , to increase volumes for Export Markets and to develop a high quality Chinese suppliers’ base; a crucially important scenario in which Iveco intends to continue to work and to play a leading role.
Iveco designs, manufactures, and markets a broad range of light, medium and heavy commercial vehicles, off-road trucks, city and intercity buses and coaches as well as special vehicles for applications such as fire fighting, off-road missions, defence and civil protection.
Iveco employs over 27,000 people and runs 27 production units in 16 Countries in the world using excellent technologies developed in 6 research centres. Besides Europe, the company operates in China, Russia, Australia and Latin America. More than 6,000 service outlets in over 100 Countries guarantee technical support wherever in the world an Iveco vehicle is at work.
Torino, 26th November 2009