Chinese bus maker lands 407 million yuan export deal with Saudi company
Ankai Automobile Co., a Chinese bus maker, has secured two orders worth a total of $64 million (407 million yuan) from Hafil Transport Co., a leading transport company in Saudi Arabia, this year.
It will deliver the buses to Hafil Transport by June 7, Ankai said in a statement.
Ankai started exporting its buses to Saudi Arabia in 2007. In 2017, it shipped 600 buses valued at 315 million yuan to Hafil Transport.
Aside from Saudi Arabia, Ankai has exported buses to Middle Eastern countries including Iran, the United Arab Emirates and Kuwait.
Ankai is in Hefei in the east China province of Anhui and is listed on the Shenzhen stock exchange.
The company expects the new orders from Hafil Transport to offset its weak sales in the domestic market.
In 2017, it sold 8,717 buses in and outside China, a drop of 14 percent from 2016.
It will deliver the buses to Hafil Transport by June 7, Ankai said in a statement.
Ankai started exporting its buses to Saudi Arabia in 2007. In 2017, it shipped 600 buses valued at 315 million yuan to Hafil Transport.
Aside from Saudi Arabia, Ankai has exported buses to Middle Eastern countries including Iran, the United Arab Emirates and Kuwait.
Ankai is in Hefei in the east China province of Anhui and is listed on the Shenzhen stock exchange.
The company expects the new orders from Hafil Transport to offset its weak sales in the domestic market.
In 2017, it sold 8,717 buses in and outside China, a drop of 14 percent from 2016.
