Dayco, a Troy, Michigan-based supplier noted for its advance timing belts for engines, has recently opened an automotive components unit in Suzhou, east China’s Jiangsu Province, wjqcw.com reported.
Dayco, which manufactures belts, hose, tensioners, pulleys and timing belt components for virtually all domestic and foreign cars, light- and heavy-duty trucks and vans, established in August 2010 a subsidiary named DAYCO (Suzhou) Automotive Components Co., Ltd. in the Wujiang Economic Development Zone in Suzhou.
An official opening ceremony was held on May 11 in the zone attended by Qiu Shaoling, general manager of Dayco China, Wen Xianghua, the mayor of Wujiang City, JIM Orchard, chief executive officer of Dayco, etc.
The new company, with a registered capital of $4 million, is engaged in the design and production of automotive power transmission belts and belt tensioners used by cars and engineering machines.
Dayco, which has invested a total of $8 million in DAYCO (Suzhou), expects to see the new company produce six million timing belts, four million poly V-belts and one million belt tensioners annually. The U.S. supplier has provided belts for the automotive industry since 1905.
DAYCO (Suzhou) reportedly has received orders from automotive OEMs such as Changan-Ford-Mazda, GAC-Fiat, GAC, Shanghai-Volkswagen, FAW-Volkswagen, and SAIC Fiat Powertrain Hongyan Co., Ltd. since its founding last August.
As of November 2010, Dayco has set up 14 factories in 12 different countries and four major technical centers globally. It distributes products through more than 1,200 distributors worldwide in 100 countries and 30 languages, according to Dayco CEO Jim Orchard.
Dayco is the largest division of Mark IV Industries, Inc., a $1.4 billion manufacturing company headquartered in Amherst, New York. Mark IV is a global leader in engine technology solutions targeted at primary and accessory drive systems for power transmission and air intake and cooling systems for the worldwide automotive and heavy-duty OEM market and automotive aftermarket.