In early November, Mr. Jack, Chairman and CEO of ASIMCO Technologies Co., Ltd., once again visited the "Hometown of China’s Piston Rings" — Yizheng in Jiangsu Province, a place he is already well familiar with. This time, he led his high-tech partner to further expand cooperation in the auto parts sector and elevate the technical standards of ongoing projects. Over the past decade, ASIMCO has maintained a long-term partnership with Yizheng, focusing on the critical component of engine piston rings. Their collaboration has created a globally benchmarked company that stands out in the local market, contributing significantly to the global automotive industry.
Yizheng is strategically located in the Yangtze River Delta and was historically known for its large Jeep manufacturing base, the Dawn Auto Plant, and the largest piston ring production facility in China — Yizheng Double Ring Piston Ring Co., Ltd. Through the introduction of advanced German and Japanese technology and equipment, the company attracted $26 million in foreign investment, forming a Sino-U.S. joint venture called Shuanghuan. The company has achieved 18 consecutive years of growth and now supplies over 100 domestic engine manufacturers. For every 10 piston rings used in China, seven come from Yizheng Shuanghuan. On average, more than 250 new products are launched annually, keeping pace with leading countries like Japan and Germany in materials and equipment. Some of their techniques have remained top-notch for over a decade, giving them a strong competitive edge and securing a spot among China’s top 500 machinery and automotive parts companies.
To adapt to the evolving global procurement and modular supply structure, Yizheng has accelerated efforts to integrate local engine parts suppliers. ASIMCO Industrial Technology Co., Ltd. expanded its operations by investing $12 million to establish Yizheng ASIMCO Casting Co., Ltd., aiming to build a first-class automotive casting center aligned with Japanese, South Korean, and European standards. With an annual output of 120 million piston ring blanks, this project supports the broader supply chain. ASIMCO also leveraged its global expertise to develop a full range of camshaft products, with a planned $30 million investment to create a dedicated camshaft project that integrates the best resources from China and the U.S., focusing on supporting the top three American automakers.
Interestingly, Japanese NPR, a world-leading piston ring manufacturer with over a decade of technical collaboration with Yizheng, recently partnered with ASIMCO and Shuanghuan to form Yizheng Rihuan ASIMCO Co., Ltd. This joint venture focuses on producing high-grade steel strip rings exclusively for cars and mini-cars. All these projects are now operational. Recently, the French PSA Peugeot Citroën team conducted a comprehensive on-site evaluation at Yizheng Shuanghuan and concluded that Yizheng's piston rings possess international competitiveness and offer great potential for future collaboration.
With industries worldwide coming together to build specialized engine parts clusters, Yizheng is strengthening its logistics capabilities and laying a solid foundation to enter the global auto parts supply system. Based on partnerships with Daewoo Heavy Industries (South Korea) and Iveco (Turkey), sales of Yizheng double-ring piston rings in the U.S., Canada, and Europe have seen a significant rise. In recent years, the company's sales have reached a scale of over 1 billion yuan, marking a major milestone in its global expansion.
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