Orb Automotive appoints Xiang-Yang Lu to board

ERJ staff report (LMH)

Shenzhen, China -- ORB Automotive Corp., a manufacturer and distributor of components for the Chinese automotive industry, has appointed Xiang-Yang Lu as an independent director to its board.

Lu is a leading pioneer in China's automotive industry, the producer of bonding solutions, rubber gaskets and sealants, and coolant products said in an 18 July announcement. He is the co-founder, vice chairman and non-executive director of BYD Co. Ltd, holding company of BYD Auto Co. Ltd., a major Chinese domestic auto manufacturer.

In 2008, Warren Buffett, through Berkshire Hathaway, made a $230 million (Euro 162 million) investment in BYD, Orb said in the statement. In 2009, Forbes ranked Lu as the fourth richest person in China. He now heads Guangzhou Youngy Investment & Management Investment Group Co. Ltd., an investment company headquartered in Guangzhou, China.

Marco Ma, ORB's CEO, stated, "I am a close friend of Mr Lu and am proud to see that he has become one of China's most influential business persons. He will bring huge value to our Board and in making ORB a leader in China's explosive automotive industry."

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Press release from Orb Automotive