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Chairman of Fuyao Glass Hornored 2008 EOY Awards

Post Time:Nov 28,2008Classify:Company NewsView:394

The Entrepreneur of the Year (EOY) Awards is a program created by Ernst & Young to identify, salute and reward outstanding Chinese entrepreneurs who have made significant contributions to the economic growth and prosperity of China. On November 21, Ernst & Young announced the winners for 2008, including those in consumer products, real estate, service, industry, technology and energy.

The Chairman of Fuyao Glass Industry Group, Cao Dewang, has been included in the list.

Cao founded Fuyao Glass in 1985, China's first domestic auto glassmaker, seeking to break the dominance of foreign imports in the market.

Now with a more than 50 percent market share, Fuyao is China's biggest auto glassmaker. In the middle to high-end passenger vehicle market, its 71 percent share is even more dominant.

Fuyao Glass supplies all top 10 carmakers operating in China, and is also a provider to household names such as Audi, Mercedes-Benz, Bentley and Daimler Chrysler. It is now in international markets competing against better-known global rivals.

Its exports almost doubled in just two years to 1.46 billion yuan in 2007. Sales increased by 33 and 28 percent in 2006 and 2007 respectively. With such a strong growth momentum, the company vows to catch up with top global players in the next five years.

Source: People's DailyAuthor: shangyi

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