On December 28, 2005, the Shaanxi Fast Automotive Transmission Group Co., Ltd. was officially established in Xi'an, following the approval of the Shaanxi Provincial People's Government. This marked a significant milestone in the development of the automotive industry in the region. The company was formed through the overall restructuring of the Shaanxi Automobile Gear General Factory, which had a long and storied history dating back to its founding in 1968.
With a registered capital of 500 million yuan and total assets reaching 3 billion yuan, the group has become a major player in the automotive transmission sector. It includes several subsidiaries such as Shaanxi Fast Gear Co., Ltd., Xi'an Fast Automobile Transmission Co., Ltd., 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. These companies collectively contribute to an annual production capacity of 360,000 heavy-duty transmissions, 15 million gears, and 80,000 tons of automotive forgings.
The Shaanxi Automobile Gear General Factory, the predecessor of the current group, was originally established as a state-invested third-tier enterprise. It played a crucial role in China’s early automotive manufacturing, becoming the first manufacturer of heavy-duty transmissions. Over 37 years, it evolved through three key stages: initial development, reform, and restructuring, eventually growing into a leading backbone enterprise in the Chinese automotive industry.
Throughout its journey, the company not only cleared all historical debts and bank loans but also ensured the appreciation of state-owned assets. Its success has provided significant tax benefits to industrial enterprises in Shaanxi and contributed greatly to the local economy. The establishment of the Shaanxi Fast Automotive Transmission Group Co., Ltd. represents a major step forward in the transformation from the old factory to a modern, integrated group, opening up new opportunities for future growth and development.
In line with the requirements of the "Company Law" and the goals of building a modern enterprise system, the group is actively working to improve its corporate governance structure. Under the guidance of state asset supervision agencies, it aims to protect the interests of the state, the company, and its employees while promoting greater autonomy and innovation. The company is also focused on strengthening its independent brand, developing key technologies with intellectual property rights, and striving to build a globally recognized brand.
For more information: Fast: Heavy-duty transmission production and sales worldwide.
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