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On December 28, 2005, with the approval of Shaanxi Provincial People's Government, Shaanxi Fast Automotive Transmission Group Co., Ltd. was established in Xi'an.
Shaanxi Fast Automotive Transmission Group Co., Ltd. is an overall restructuring of Shaanxi Automobile Gear General Factory, with a registered capital of 500 million yuan and total assets of 3 billion yuan. It owns Shaanxi Fast Gear Co., Ltd. and Xi'an Fast Automobile Transmission Co., Ltd. Company, Baoji Fast Gear Co., Ltd., Baoji Fast Casting Co., Ltd., Xi'an Fast Pto Corp., American Fast Distribution Co., Ltd., and Eaton Fast (Xi'an) Co., Ltd. The company has formed an annual production capacity of 360,000 heavy-duty transmissions, 15 million gears and 80,000 tons of automotive forgings.
The predecessor of Shaanxi Fast Automobile Transmission Group Co., Ltd., the predecessor of Shaanxi Automobile Gear General Factory, was founded in 1968. It is a third-tier enterprise that has been invested and constructed by the state and is also the first heavy-duty transmission manufacturer in China. During the 37 years, Shaanxi Automotive Gear Plant has undergone three stages: entrepreneurial development, reform and development, and restructuring. It has grown to become an important backbone enterprise in the automotive industry in China. It not only pays off all historical debt and bank loans, but also realizes the appreciation of state-owned assets. Preserving the value has become a big tax benefit for industrial enterprises in Shaanxi Province and has made outstanding contributions to the development of the local economy. The establishment of Shaanxi Fast Automotive Transmission Group Co., Ltd. is an important milestone in the development of the transition from the Shaanxi Dental Factory to the Fast Group, creating a broader space for the future development and rapid development of the company.
In accordance with the "Company Law" and the requirements for the establishment of a modern enterprise system, the Fast Group will, under the guidance of state-owned assets supervision and administration agencies, actively improve the corporate governance structure, effectively safeguard the interests and rights of the state, enterprises and employees, and accelerate enterprise autonomy. The pace of innovation will continue to strengthen the construction of independent brands, vigorously develop key technologies and core technologies with independent intellectual property rights, and create their own world brands.
View related topics: Fast: Heavy-duty transmission production and sales in the world