Voith Corporate Management (Shanghai) Co., Ltd. Block A-D, 21/F Mirae Asset Tower166 Lujiazui Ring Road, Pudong 200120 Shanghai, PRC

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www.voith.com.cn

Corporate News Voith Awarded “Best Human Resource Management Company in China”

Face to Face Accelerate localization process and drive further development by reform

FocusHighlights of the year 2014 in China

A Magazine for Voithians# 1 | 2015

Cover Story

Constantly driving growth through change and innovation

30 Panorama

30 Join hands to build trust After 18 months of negotiations,

Voith Industrial Services and Volvo Chengdu reached a mutual agreement for long-term partnership.

32 Volunteerism, a lifechanging experince In the meantime of the cel ebration of the 20th anniversary of VHS, a charity auction event was held in collaboration with VOCS to make collective efforts to give back to the community. It also symbolized a big step of corporate social responsibility stewardship for Voith in China.

03 Editorial

03 Dear Voithians in China

04 In Brief

04 Business NewsUpdated news from corporate and operating units

10 Cover Story

10 Constantly driving growth by change and innovationVoith China moves forward against all odds and grows with transformation.

18 Corporate News

18 Voith Awarded “Best Human Resource Management Company in China”

20 Voith Regional Meeting 2015 Asia Held in Shanghai

22 Face to Face

22 Accelerate localization process and drive further development by reformInterview with Mr. Zhu Jinping, General Manager and Chief Administration Officer of Voith Turbo China

26 Focus

26 Highlights of the year 2014 in China

Cover Picture:

Machining process engineer Xu Hanfeng (right) and operator Peng Hailin are discussing tooling cutter at site of runner blade machining of turbine manufacturing workshop of VHS.

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Dear Voithians in China,

Everything is starting to become fresh and new as spring is approaching quietly. For this blossoming moment of the year, we, on behalf of the YUE editorial office, would like to express our best wishes to all of you for a happy and healthy Year of the Ram.

The Year of the Horse was certainly a harvest year for Voith, with new plants being inaugurated, new investment moving forward and new milestones being achieved. The Cover Story of this issue (pages 10 to 17) tells how Voith is continuing to inno-vate and secure new orders, speeding up its development in China through optimiz-ing product portfolio, strategic realignment and an enhanced localization process against the challenging market. The column of In Brief (pages 4 to 9) and 2014 Highlights (pages 26 to 29) reviews Voith China’s excellent performance both here at home as well as abroad throughout the year of 2014.

“Change” is another main catchword for Voith in the past year. In the Face-to-Face column on pages 22 to 25, Mr. Zhu Jinpin, General Manager and Chief Administra-tion Officer of Voith Turbo China, shares with us how Voith Turbo is marching for-ward with a brand new outlook and at the “gradual change” pace in China and the Asian-Pacific market.

Backed up by its boom in business results, Voith was able to consolidate its corpo-rate image and employer brand. In 2014, Voith once again won the award of “Best HR Management Company in China”. The new training center has recruited the first class of technical trainees, and held training a total of 210 sessions until this Febru-ary, with a total training hour of 47,656. Among these, 2,072 training hours have been offered to participants outside of the organization. Our corporate social re-sponsibility stewardship did not just stop there, however. In last November, Voithi-ans spread their love and care to the neighboring community while celebrating the 20th anniversary of VHS. For more information on this, please see the “Panorama” column on pages 30 to 33.

Finally, we want to remind each and every one of you that Voith has launched its official Weibo (Voith China) and WeChat (Voith Recruiting) accounts to expand the company’s digital presence. Please take the time to check them out. We hope these new platforms, as well as YUE, will bridge you closer with the Voith family, and bring you positive energy. We wish all of you nothing but the best in health and happiness!

Best Regards,Corporate Communications, Voith China

Editorial

Voith Hydro Shanghai celebrated 20th anniversary.

Voith and Cheng Loong Corp. signed the tissue machine contract for Cheng Loong TM16.

Voith Hydro Shanghai celebrates 20th anniversary

On 13 November, 2014, Voith celebrated the 20th anniversary of Voith Hydro Shanghai (VHS). In the last two decades, VHS has grown into a major force driving China’s hydropower develop-ment by participating in almost all the key hydropower projects in the country with localized manufacturing and engineering, a best practice to Voith Group’s long-term commitment to China.

The proven track record in China is also enabling VHS to expand into the overseas markets. In 2012, VHS established an engi-neering center, as one of the five R&D centers of Voith Hydro across the globe. The center works jointly with other facilities on

the R&D of system engineering of power units for the markets of VHS both in China and overseas.

“As a fully localized Chinese company, VHS has now grown into a major hub for Voith Hydro to serve the international markets,” said Martin Andrae, President of Voith Hydro Shanghai. “We are not only Voith Hydro’s largest manufacturing base in the Eastern Hemisphere but also a major innovation center. We are expect-ing the overseas markets to contribute business growth in the coming years.”

Voith wins new tissue line order from Cheng Loong

On July 18, 2014, Voith and Cheng Loong Corp. signed the tis-sue machine contract for Cheng Loong TM 16 in Taipei, Taiwan. This order continues the successful partnership between the companies Cheng Loong and Voith.

The TM 16 will be installed in Chupei, Taiwan, and is scheduled to start up in September of 2015. It is based on a VTM 3 tissue

In Brief

machine concept from Voith and the scope of supply contains the newest technology which consists of a single-layer Master-Jet Pro T headbox and the NipcoFlex T shoe press for reduced energy consumption. Furthermore, an 18-foot steel Yankee cyl-inder for best heat transfer and thus optimum thermal drying ef-ficiency as well as a high-performance steam hood and the Mas-terReel reel belong to the scope of supply. Also included in the delivery are forming and press fabrics.

TM 16 will produce high-quality dry crepe toilet paper and hand towel with a wire width of 3,796 mm and a design speed of 2,200 m/min. As technology leader, Voith focuses on less energy consumption, less fiber usage and more flexibility in operation to fulfill industry demands. With the signing of this contract with Cheng Loong, Voith will strengthen its leading position in innova-tive technologies for the tissue industry.

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Technical team from Voith Industrial Services at the site of the industry renowned automotive tier one supplier.

Voith wins new contract of production equipment maintenance services

On 1 November, 2014, Voith Industrial Services (Shanghai) Co., Ltd (VISH) entered into a three-year production equipment maintenance services agreement with a reputable automotive tier one supplier. VISH will provide a wide variety of services covering: preventive maintenance, reactive maintenance, online replacement of electric and machinery parts, off l ine maintenance, equipment

In Brief

Jiefang LNG truck-tractors equipped with Voith retarder.

80 trucks and tractors equipped with Voith retarder delivered to ENN

In September 2014, 60 Dongfeng trucks and 20 FAW Jiefang LNG truck-tractors equipped with Voith retarder were delivered to ENN Energy Logistic Co., Ltd.

As efficient continuous braking system, Voith Retarder offers definite advantages: they brake virtually wear-free and are fully operational even on long de¬scents, so as be able to increase both the safety and the transport performance of vehicle.

As a leading company of Energy Logistic industry, ENN is well known for its principle of high standard equipment procurement and outstanding operation management. Voith exactly achieves their expectation on safety and reliability by providing high quality, products and excellent after-sales service.

overhaul and restructuring, and parts and documentation management.

VISH successfully secured this partnership based on its years’ solid reputation among the Volkswagen sites in China. Apart from that, the customer is fully convinced by the professional expertise and strong credential of Voith.

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Voith delivers the first runner to Hong Ping pumped storage station

On March 23, 2015, Voith completed the first runner of Hong Ping pumped storage station located in Jiang Xi Prov-ince. This is the first runner among 4 units for the 1200MW pumped storage station. The first unit of Hong Ping is planned to commission in the first quarter of 2016, with 3 months interval; all the 4 units will be commissioned.

With the goal to implement this project at the best level, based on the result of first model, Voith Hydro engineering center in Heidenheim invented the 2nd model to further op-timize not only the efficiency of turbine mode and pump mode, but also the stability of S curve. The final result with

Voith opens new plant to perform wheel and tyre assembly for luxury vehicles

On December 11, 2014, Voith held a ceremony for the inau-guration of a new plant in Changshu, which will provide wheel and tyre assembly service for vehicles in China. The plant, with an investment of around RMB 50 million, has an annual capacity of assembling 1.1 million wheels and tires.

The new plant was built upon a ten-year contract awarded by a global leading auto maker to Voith Industrial Services China. This investment underscores Voith’s intensifying business ex-pansion in the world’s most dynamic vehicle market.

“Voith has a proven track record of providing a broad spec-trum of technical services to automobile manufacturers and suppliers by accompanying them throughout their entire pro-duction process and global footprint,” said Gerwin Gädigk, Managing Director of Voith Industrial Services China. “The opening of our Changshu plant marks a further step in our intensifying efforts to tap into the Chinese automobile market.”

Voith held opening ceremony for its new wheel and tyre assembly plant in Changshu.

In Brief

regard to efficiency and stability achieved the new record in the industry.

“We have seen a strong growth for the pumped storage proj-ects in China for the next decade, which works as a flexible energy generation option to stabilize the grid. VHS has been doing our best endeavors to make this project success. It is the best practice towards positioning VHS in the Pumped Storage market. The experience accumulated in Hong Ping will definitely benefit the other projects of Pumped Storage,” says Mr. Martin Andrae, President of Voith Hydro Shanghai.

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Bird view of the Li Yuan hydropower station in Yunnan.

Voith’s 1.000th TPKL fluid coupling used in DaTong Coaling Mining Group

In December of 2014, Voith manufactured the 1.000th flu-id coupling type TPKL. This coupling will go to DaTong Coal Mining Group in China. In this specific case the mine will receive four fluid couplings type TPKL. This fluid cou-plings type has specifically been developed for demanding belt conveyor applications in mining. The coupling pro-vides excellent torque limitation for a smooth start-up of the belt conveyor. It allows active load sharing with multi-motor drives. Thanks to its standstill cooling function it can handle the most difficult start-ups multiple times in a row.

As one of the top three coal groups in China, DaTong Coal Mining Group operates a big number of coal mines across the country. Many of them use Voith fluid couplings in di-verse underground applications like AFCs, belt conveyors, stage loaders and crushers. Convinced by the good per-formance, the decision for the drive line arrangement in the main belt conveyor of a new coal mine was also made in favor of Voith Fluid Couplings.

In Brief

The first unit of Li Yuan hydropower station put into operation

On December 28th, 2014, the first unit of Li Yuan hydropower station successfully completed the 72-hour trial operation after one time start up, and then was directly put into commercial operation. The customer, Yuannan Jinsha River Hydropower Co., Ltd, is satisfied with the technical performance of turbine which was supplied by VHS.

VHS received the Li Yuan contract in 2008 including 4 sets of turbines. As the low head of the hydropower station, the size

of the unit is very huge. The head cover weighs 269 tons and the length of guide vanes reaches 5.9 meters. The runner was manufactured on site.

Bordering in the Yulong County of Lijiang and Shangri-La County of Diqing, Li Yuan hydropower station is located in the Jinsha River. The installed capacity of the Li Yuan is 2400 MW. The Other three units will be in operation in 2015. All the electricity generated will be sent to Guangdong Province.

Voith China Training Center Certified LEED Gold

In March 2015, Voith China Training Center received LEED Gold Certification. Built with an integrated energy saving con-cept, the training center saves energy by 25% through multi-ple measures including use of daylighting system, efficient air source heat pump and optimum thermal properties of build-ing envelope. In addition, it saves water consumption by 45% through rainwater harvesting system, water saving washing and water flow system. To create a comfortable and pleasant indoor environment, Voith China Training Center used low emitting materials to improve visible light transmittance of glass, and installed advanced air filtering system in the weld-ing workshop to achieve zero emission of welding offgas.

The LEED Green Building Rating System is developed and promoted by U.S. Green Building Council (USGBC). It is now recognized as the world’s most comprehensive and influential rating standard.

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Voith releases 2013/2014 fiscal report, constantly driving change

In a market and competitive environment that remained very challenging, Voith made visible progress in the 2013/14 fis-cal year with its Group-wide Voith 150+ success program. Although there was a lack of stimulus for business in virtu-ally all key markets, the technology group’s level of orders received increased by around 7% to €5.581 billion despite having still been in decline in the two previous years. Orders on hand stood at €5.379 billion as of September 30, 2014, just under 5% higher than the level seen in the previous year.

The consolidated sales, however, fell by around 7% to €5.345 billion on account of declining order volumes in pre-

vious years. The Group’s profit from operations fell to €270 million, net income shrank to €41 million.

In the past fiscal year, Voith pressed forward as scheduled with the fundamental changes begun under the Voith 150+ success program. The program aims at optimizing Voith’s portfolio and processes as well as reinforcing the corporate culture in a rapidly changing environment, with the vision to safeguard its long-term competitiveness sustained growth. Once the program has been fully implemented, Voith antici-pates annual cost savings of €250 million and expects to free up working capital of €100 million.

Voith held groundbreaking ceremony for its new rail vehicle components plant in Shanghai.

In Brief

On 11 December 2014, Voith conducted the ground breaking ceremony for its new rail manufacturing plant in Shanghai. With total investment of more than 300 million RMB, the new factory is scheduled to be completed in May 2016. Scharfen-berg couplers, front-end systems, transmissions and gear boxes will then be produced locally. Additionally, an engineer-ing center will be set up to develop products for the local market needs.

“With this new plant, Voith further improves its proximity to the customers in the Chinese market and Asia Pacific region. It

will help us to strengthen our customer engagement,” said Carsten Reinhardt, CEO of the Management Board of Voith Turbo.

Voith Turbo has been consistently growing with the require-ments of safety and sustainability. Carbon emissions reduc-tion and energy saving measures have been taken into con-sideration of the plant design.

Groundbreaking held for new rail vehicle components plant

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Voith honored with 2013 Excellent Supplier Award

In July 2014, Voith Industrial Services (Shanghai) Co., Ltd. (VISH) was conferred with “Excellent Supplier Award” by Beijing Benz. The award is designed to honor companies that have achieved excellent performance in the previous year in executing quality of services, response efficiency, and value-added capability.

The strategic cooperation with Beijing Benz dates back to early 2005. This 10-year burgeoning partnership has contin-

ued as a result of the great coating technique, reliable and quality service of VISH. Currently, VISH provides Beijing Benz with an extensive variety of services which incorporate operation and management of circulating water system, analysis of paint film defects, surveillance and replacement of filter medium, inventory optimization, extracting paint from fixtures and sled and equipment technical cleaning.

Voith launches social media platform in China

In October 2014, Voith launched its official social media platform: the “Voith China” account on Sina Weibo, and “Voith Recruiting” account on Tencent WeChat as a further step to promote corporate and employer branding in China. The Weibo ac-count now serves as a major social media platform to release company news, share product and in-dustry updates and success stories. The “Voith Recruiting” WeChat account had a success trial at the 2014 Campus Recruiting and now opens up more target groups with upgraded functions. The digital moves of Voith will step forward as the “Voith China” account on Tencent WeChat is now under development and will be launched soon. At the meantime of serving the external audiences, developing social media platforms aims to deliver-ing the story of Voith to employees in timely man-ner, and bonding Voithians together. Please follow @weibo.com/voithchina, and add “Voith Recruit-ing” on WeChat to find out more.

Voith honored with 2013 Excellent Supplier Award by Beijing Benz.

In Brief

Voith acquires 25.1% of KUKA, strategic investment in Industry 4.0 magetrend

On 3 December, 2014, Voith GmbH notified KUKA Aktiengesellschaft that, by way of shares as well as financial instruments partly pending antitrust approval, it has attained 25.1 percent of the voting rights in the company. The majority of the shares acquired come from the previous major shareholder Grenzebach.

Headquartered in Augsburg, Germany, the KUKA Group is one of the world’s leading suppliers of robots as well as automated production systems and solutions. KUKA’s customers are predominantly in the au-tomotive industry. In 2013 KUKA generated consolidated sales reve-nues of some EUR 1.8 billion and EBIT of around EUR 120 million.

KUKA is focused on mechanics, electronics, sensor systems and soft-ware and is superbly positioned for Industry 4.0 with its highly special-ized automation expertise. Computerization and automation will funda-mentally change industrial production processes in the years ahead and robots are the key component in tomorrow’s digitized industry. The stake in KUKA AG represents a strategic investment for Voith in the in-dustry 4.0 megatrend.

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Constantly driving growth through change and innovation

Cover Story

Voith China moves forward against all odds and grows with transformation

The Three Gorges hydropower station.

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In the past fiscal year, Voith implemented the fundamental changes as scheduled under the Voith 150+ success program steadily, pressing forward the Group to seek greater development through transformation. Facing the ever-changing global market and unprecedented uncertainties, all Group Divisions have been deeply rooted their business in the local market and have strengthened their core competitiveness through product portfolio optimization, core strategy realignment, business restructuring and new investment, to constantly drive sustainable growth through change and innovation.

Cover Story

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Root deeply into China market to fulfill long-term commitment

November 2014 marked the 20th anniversary of Voith Hydro Shanghai (VHS). During the past two glorious decades, VHS has grown into a major force driving the development of Chi-na’s hydropower industry by contributing to almost all the key hydropower projects in the country with localized manufactur-ing and engineering. In 2012, VHS established an engineering center in Shanghai in order to provide the customers with su-perior and most efficient solutions from the local engineers’ team. As one of the five R&D centers of Voith Hydro across the globe, the center provides hydrovalve design for VHS and work jointly with the R&D center in Heidenheim and other re-gions on the design and technical support of large-scale inlet valve for the markets of China and overseas.

As a renewable energy resource, hydropower is one of the greatest achievements on China’s modernization agenda. Two decades ago, Voith Hydro and Shanghai Electric Group con-solidated their forces to establish Voith Hydro Shanghai (VHS). Since then, VHS had already set up its vision to become a lo-

1. In 2002, in celebrating the delivery of Three Gorges stator frame, VHS held a festive concert in the stator frame with a diameter of 21 meters, accommodating more than 600 people.

2. VHS established an engineering center in Shanghai in order to provide the customers with superior and most efficient solutions from the local engineers’ team.

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Cover Story

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calized leader in the hydropower industry of China. VHS has supplied, since its establishment in 1994, more than 120 units of turbine of different portfolio, 25 units of generators with ca-pacity ranging from 125 MW to 750 MW, to 40 plus major hy-dropower stations in the country; including Three Gorges and Xiluodu. Moreover, VHS has also participated the rehabilitation projects of several existing hydropower stations in China, re-placing 10 units of Kaplan turbines and 12 units of Francis turbines for extension and restructuring in Sanmenxia of Henan Province, Bapanxia of Gansu Province, Danjiangkou of Hubei Province, Liujiaxia of Gansu Province, Xin’anjiang of Zhejiang Province, Xijin of Guangxi Province, Fuchunjiang of Zhejiang Province and Huanren of Liaoning Province.

Over two decades, VHS has been deeply rooted in China and is committed to service the local market. As it welcomed the glorious moment of 20th anniversary milestone, VHS showed its commitment to the Chinese market again: In 2013, VHS successfully delivered the three power generators to Xiluodu, the world’s third largest hydropower station. The power out-put of this generator reaches a record high of 885MVA, which is one of the world‘s largest unit of its kind, setting a new benchmark for the hydropower industry.

At the same time of being a fully localized Chinese company, VHS has now grown into a full-line supplier of hydropower facilities to serve the international markets. In recent years, VHS had been awarded with quite a few overseas orders, in-cluding the contract of Nam Hinboun hydropower project in Laos, and several major hydropower projects in Africa. In the beginning of 2014, VHS and Voith Hydro Germany jointly se-cured a €200 million contract for the Tarbela 4th extension hydropower project in Pakistan. In September 2014, VHS gained the €50 million contract for the extension project of Lam Ta Khong hydropower plant in Thailand. Major progress came in this February as the hydro model of this pumped storage project received confirmation from customer the Elec-tricity Generating Authority of Thailand.

VHS has been committed to promoting the development of China’s renewable energy sector since its incorporation. As of today, with strong foothold in the China market and increasing footprints in the regions of Asia and Africa, VHS keeps on expanding its reach to the overseas market that offers huge potentialities.

“With this new plant, Voith further improves its proximity to the customers in the Chinese and Asia Pacific region. It will help us to strengthen our customer engagement.” Carsten Reinhardt, CEO of the Management Board of Voith Turbo

Cover Story

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Press forward the localization process to enhance core competitiveness

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As a leading global rail vehicle parts and solutions provider, Voith Turbo has a long history in China. As early as 1965, the railroad projects in China started to use the hydraulic trans-mission systems made by Voith Turbo. Over the years, by making great contributions to the railroad development in China, Voith Turbo is enjoying a remarkable reputation in the industry of China. In the next few years, along with the con-struction progress of high-speed railway in China slowing down from the development peak, Voith Turbo will be facing a shift of its business direction in China’s market, continuing to actively optimize the product portfolio to better facilitate the customers’ experiences, and to enhance core competi-tiveness.

Voith Turbo implemented a “VT 2020” program since the fall of 2012 with one of the key targets to strengthen its competi-tiveness. In order to accomplish this objective, Voith Turbo implemented a brand new organizational structure, sharp-ened focus on key segment growth and strengthened the role of Region. Once the new plant in Shanghai is completed, Voith Turbo will be able to further improve its service capabil-ity to local market, and continue to move the localization pro-cess forward in order to meet the ever-changing Chinese market that is full of both opportunities and challenges.

On 11th December 2014, Voith conducted the ground break-ing ceremony for its new rail vehicle components plant in Shanghai. With around RMB300 million investment, the new plant covering a total floor area of 34,000 square meters is scheduled to be completed in May 2016 when Scharfen-berg couplers, front-end modules, hydraulic transmissions and gear boxes will then be produced locally. Moreover, an engineering center will also be set up in this plant with aim to developing products to meet the local market needs. The establishment of the new manufacturing plant will enable Voith Turbo to shorten the product delivery lead-time, to re-spond to customers’ needs in a timely manner, and to allow Voith and customers to enjoy the sustainable growth togeth-er. As Mr. Carsten Reinhardt, CEO of the Management Board of Voith Turbo said, “With this new plant, Voith further im-proves its proximity to the customers in the Chinese and Asia Pacific region. It will help us to strengthen our customer engagement.” From there on, Voith Turbo will be able to em-brace new development opportunity in the challenging Chi-nese market.

Cover Story

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their needs, continuing to enhance the service solution and innovation to create a new growth engine.

Under the harsh market condition, an increasing number of customers are turning to environmental-friendly paper making solution in order to seek for the most energy-and-cost-efficient manufacturing process as well as to jointly promote the sus-tainable development of the industry. As a front-runner in the global paper making industry, Voith Paper integrates the qual-ity resources in order to provide the latest innovative products and services to customers throughout the world, as well as to proactively expand the raw material sources for paper making so as to elevate the sustainability of the paper industry.

At the beginning of 2014, the YFY (Yuen Foong Yu) PM3 pro-vided by Voith Paper became fully operational. It is the first papermaking machine in China to use 100% domestic recy-cled paper as raw material, marking a breakthrough for the whole industry in China that used to rely heavily on imported recycled paper. Furthermore YFY PM3 is capable of reducing power consumption by 20% and water consumption by 12% during the production and the paper sheets produced are completely free from original wood pulp. Yet, Voith Paper’s in-novation pace did not stop there, and is now working closely

Transform and innovate to resume a brilliant vitality

For Voith Paper, 2014 is a year full of challenges. The global paper industry has been coping with multiple challenges, apart from the major changes in market demand, the resourc-es of water, fiber and energy that are essential for paper man-ufacturing industry has become increasingly scarce. The growth of Voith Paper during the fiscal year of 2013/2014 mainly came from the market of Asia, China in particular. One of the challenges for Voith Paper by now is how to tightly cap-ture the opportunities in the changing Asian markets and how to lead the entire Division to resume its brilliant vitality.

Innovation is Voith Paper’s “secret weapon” for confronting the challenge and seizing the opportunities. Mr. Thomas Hol-zer, the President of Voith Paper Asia said, although the graphic paper market is experiencing a periodically overca-pacity, the thriving of e-commerce in this region has been continuing to boost the consumption for packaging and board paper remarkably, especially in China. The main tasks for Voith Paper are to seize the opportunities here, establishing long-term partnership with local customers while satisfying

1. In 2014, Voith has started up a new board machine installed at a paper manufacturing in southern China.

2. With Voith NipcoFlex T the dry content of the paper web after the press is five percent higher, which saves around 20 percent of the thermal energy needed in the dryer section.

Cover Story

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with customers on exploring alternative raw material to further advance the sustainability of the industry.

Voith Paper itself is the role model in incorporating sustain-ability in its own operations. For instance, the new fabric plant in Voith Paper city has been awarded the gold sustain-ability certification of the LEED standard for green building design. Voith Paper’s leadership in sustainability is a result of years of innovation and experience. For the first time ever, Voith Paper has created the role of Chief Technology Officer (CTO) in the Management Board of Voith Paper in 2014. From here on, Voith Paper will maintain its sustainable inno-vation paces and can go extra miles to provide high value solutions to customers.

Adhere to core strategy to achieve long-term growth

During the past year, Voith Industrial Services was stepping closer to its long-term sustainable growth through adhering to the core strategy and optimizing the product portfolio. De-spite of the extremely challenging and competitive market situation, the business revenue of Voith Industrial Services in

China still grew by more than 20% during the fiscal year of 2013/2014, achieving RMB 240 million.

On 25th November 2014, Voith Industrial Service welcomed the milestone of JOB1 of its new facility of automotive division: with an investment of around RMB 50 million, the new plant in Changshu is engaged in the wheel and tyre assembly for a luxury vehicle brand and has been fully prepared for full opera-tion in alignment with the customer’s plan. Various depart-ments of Voith Industrial Service worked in cooperation to make this happen: the logistics department coordinated be-tween customers and suppliers to ensure the materials are in place, the quality department supervised the quality of pro-duction material and the operation, and the maintenance team ensured the equipment runs properly, while the production and HR carried out relevant training programs for employees.

After months of hard work, the inauguration ceremony of the new plant was held on 11th December 2014 in Changshu, Ji-angsu. As Mr. Gerwin Gädigk, Managing Director of Voith In-dustrial Service (China) said, “Voith has a proven track record of providing a broad spectrum of technical services to automobile manufacturers and suppliers by accompanying them through-out their entire production process and global footprint. The

“The positive effects of Voith 150+ will gradually become visible over the next two years as the program becomes fully imple-mented. We are acting quickly and consistently in this regard, but are nevertheless taking the time necessary to press forward with the changes in a thorough manner and conscious of the responsibilities we have for our employees. The objective is to put Voith in a position to achieve long-term success. We have the best starting position for this task: a portfolio focusing on the needs of the future, healthy financial strength, an efficient organization and outstanding employees.”Dr. Hubert Lienhard, President and CEO of Voith Group

Cover Story

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On 25th November 2014, the new plant in Changshu of Voith Industrial Services welcomed the new phase of JOB1.

In the past fiscal year, Voith pressed forward as scheduled with the fundamental changes begun under the Voith 150+ success program which Voith Group launched in the fall of 2013. With this program, Voith is safeguarding its long-term competitiveness and ability to generate growth – beyond its 150th anniversary in 2017.

Voith never stopped its progress to be further rooted into the local market of China ever since entering this region in 1910. While the 150th anniversary is approaching, all Group Divisions in China are enduring to solidify their market positions, to adapt to the development trend, to strengthen their core strategy and competitiveness by embracing change and ex-ploring innovation. As Dr. Hubert Lienhard, President and CEO of Voith Group said, “The positive effects of Voith 150+ will gradually become visible over the next two years as the program becomes fully implemented. We are acting quickly and consistently in this regard, but are nevertheless taking the time necessary to press forward with the changes in a thor-ough manner and conscious of the responsibilities we have for our employees. The objective is to put Voith in a position to achieve long-term success.”

opening of this Changshu plant marks a further step in our in-tensifying efforts to tap into the Chinese automobile market. “

According to China Association of Automobile Manufacturers (CAAM), the automobile output in China had been increased year-on-year by 9.6%, reached 11.78 million units in the first half of 2014, while the sales units increased by 8.4%, reached 11.68 million units during the same period. Luxury cars accounted for 9.4% of the total automobile market, which is higher than Japan and South Korea. Aware of this market opportunity, Voith Indus-trial Services completed the new plant in Changshu to perform wheel and tyre assembly for a luxury vehicle brand. The plant has an annual capacity of assembling 1.1 million wheels and tires and will further assist Voith on its business expansion in China - the most vibrant auto market in the world.

According to Mr. Gerwin Gädigk about the business outlook, an average annual growth of over 25% for Voith Industrial Ser-vices in China is estimated in the coming years. Under the in-tensified competition of China automobile sector, an increas-ing number of manufacturers are starting to outsource their production so as to optimize their cost structure and focus on their own competencies. This phenomenon facilitates a major boost to the business growth of Voith Industrial Services.

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Voith Awarded “Best Hu-man Resource Manage-ment Company in China”

Corporate News

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Voith Awarded “Best Human Resource Management Company in China”

In December of 2014, Voith was acknowledged as one of the “2014 Best Human Resource Management (HRM) Companies in China” by 51job Inc., a leading integrated human resources service provider in China. Voith won this award for the second consecutive year.

The 100 Best HRM Companies award is a prestigious program in China aimed at recognizing those demonstrating exemplifying leadership in HR management and practice in the country. This year, the award focuses on the theme of “Caring for frontline staff, making work more enjoyable” with 10 key criteria including the candidate companies’ ability to attract and retain the talents, compensation and career development.

The organizer screened 380,000 companies and nominated 224 of them for selection. After conducting extensive data collection analysis, as well as face-to-face and telephone interviews with 212 companies which accepted the nominations, the organizers voted 100 companies as the top employers in China. Other winners include Bosch, Bayer and General Electric.

Voith also was recognized by the organizer as the 2014 Best Organiza-tion Development Program Company. Other winners of this award in-clude Cisco, Schneider and Rockwell Automation.

Diversity and inclusion are strongly incorporated in Voith’s human re-source management, which has fostered a corporate culture providing sustainable development opportunities to talents with different back-grounds and advantages, and a tradition of “long-term service” at the company. The company’s annual sustainability report for the fiscal year 2012/2013 showed that the annual tenure of its employees averaged at 8.3 years. In the fiscal year 2012/2013, female employees working at Voith accounted for 21.5% of its total headcount, and employees aged over 50 accounted for 27.1%.

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Voith Regional Meeting 2015 Asia Held in Shanghai

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Corporate News

1. Voith president and CEO Dr. Hubert Lienhard (right) and CFO Dr. Hermann Jung disclosed the current corporate performance and illustrated the roadmap for the Group-wide success program Voith 150+ at the regional meeting.

2. The regional meeting gathered more than 200 management executives from eight different countries across Asian region for closer intercommunication.

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Voith held its Regional Meeting 2015 Asia in Shanghai on March 3rd, 2015, gathering more than 200 management ex-ecutives from eight different countries in this region. Voith President and CEO Dr. Hubert Lienhard and CFO Dr. Her-mann Jung disclosed the current corporate performance and illustrated the roadmap for the Group-wide success program Voith 150+.

Voith launched the Group-wide success program Voith 150+ in the fall of 2013. Its objective is to place our company on a solid footing in the long term and enable Voith to continue generating sustainable, profitable growth going forward. Now how is the program stepping forward? What are the specific initiatives mapped out? How can Voith keep its competitive-ness and flexibility to meet the challenges of this fundamen-tally shifting environment? At the Regional Meeting 2015 Asia, Voith CEO Dr. Hubert Lienhard provided a clear picture of Voith’s future: “If I envision Voith in the long-term future, I see a company which is unique in the customers’ minds for its innovative engineering in the age of digitalization. This vision contains two elements: First, a 100 percent customer focus and, second, a strategic focus on technology, on engineering, on material science, on innovation and know-how in industrial manufacturing in the 21st century.”

At the Regional Meetings, Dr. Hubert Lienhard and Dr. Her-mann Jung illustrated the eight modules of Excellence@Voith, one of the three pillars of Voith 150+ program, and shared the implementing timeline under each module. Restructuring Voith’s worldwide administrative processes will develop Voith towards a leaner, faster and more cost-efficient company with simpler, easy to handle processes in the back offices and in the business support functions.

“The goal of Administration Excellence, HR Excellence and Supply Chain Excellence is to optimize the processes in our indirect areas Group-wide, and at every level. This is the first time we have launched an initiative of this sort in this area at Voith, but we must not lose sight of the best practices in our industry, because the world is always changing around us.” said Dr. Hermann Jung.

Starting February 4, six Regional Meetings have been held around the globe to inform management about the Excel-lence@Voith initiative. The Regional Meeting 2015 Asia was the second last stop in the agenda for this year. From there, this information will then be disseminated throughout our or-ganization. As the year progresses, ongoing communication will be held regarding the process changes of this program.

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Mr. Zhu Jinping, General Manager and Chief Administration Officer of Voith Turbo China

Face to Face

Accelerate localization process and drive further development by reformInterview with Mr. Zhu Jinping, General Manager and Chief Administration Officer of Voith Turbo China

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Satisfy the Chinese market by localization and enhance the core competitiveness by innovation

Since the fall of 2012, Voith Turbo launched the “VT 2020” program with one of the key targets to strengthen its competitiveness. In order to accomplish this objective, Voith Turbo optimized the organization structure, sharpened focus on key strategic opportunities and strengthened the role of Region. In Mr. Zhu’s viewpoint, “to accelerate the local-

ization process” is at the heart of being more competitive for Voith in China.

Voith Turbo has been contributing to the rail industry in China for the past five de-cades, especially for this region’s high speed rail industry as China continues to develop the nation’s high speed rail net-work in recent years. However, indicat-ing by the fact that the intensive con-struction of high speed railways in China will be completed in the coming years, Voith Turbo will have to shift its focus to-wards the metro system in China. This is not only the process Voith must take to

root itself deeper into the local land, but is also the inevitable trend Voith must move in order to secure sustainable de-velopment in China.

“As for the competitiveness aspect is concerned, there are three basic factors to be considered: cost, time and quality. In the past, we focused more on the product itself but overlooked the other two factors, and didn’t attach enough importance to the value of service.” Ac-cording to Mr. Zhu’s perception, localiza-tion means much more than “localized production”. Customer’s experience

Face to Face

As the world’s leading manufacturer and solution provider of rail vehicle parts, Voith Turbo has dedicated significant contributions for the rail transportation industry in China, providing hydraulic transmission systems to China’s railr projects as early as in 1965. On December 11, 2014, the groundbreaking ceremony was held in Shanghai for the new rail vehicle parts plant, which marked a brand new starting point for Voith Turbo in China. During the interview, Mr. Zhu Jinping, the General Manager and Chief Administration Officer of Voith Turbo China, expressed his high expectation for this new milestone: “Voith Turbo has been making constant progresses on the localization process. Having this plant will further enhance our ability to serve the local market.”

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As a veteran of Voith, Mr. Zhu Jinping would like to share some of his viewpoints with the employees on career development.

“Do not accept a job only for the sake of better compensation. The first step you should choose on building up your career is to take a job you like. Your passion for work will eventually bring you success someday later.”

“First learn how to get rid of your fickleness and perform your work with a serious and steadfast mind. A solid foundation will lead you to a further step of your career journey. Moreover, the world is changing now; don’t forget to sell yourself when you are doing you best to further enhancing yourself.”

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now plays an much more important role as the market is developing.

In the past, to purchase the production parts with the extremely same German standard in China would cost us a pre-mium price. Besides, the customers in different regions may have different needs. If not adjusted to the local market needs, some products that are popular among European customers may not re-ceive such positive feedbacks from Chi-nese customers, because they may complain “their money had not been spent on the right edge”. When answer-ing how to localize Voith’s products in China, Mr. Zhu said: “We have to be a good listener to our customers and to integrate their needs from the very be-ginning of product design. We must ad-here to the requirement of local industry chain and customize quick turn-around, great quality and best valued products, which will be the key of our success.” With the implementation of “VT 2020” and “localization process”, the unitary “designed by Germany, made in China” situation is expected to be improved.

It is no hyperbole to say that the com-mitment to customers is as rigid as a military order in Voith Turbo. Apart from

the localization of production, design and supply chain, Voith Turbo will also solidify the efforts to localize technology by cultivating a technical team com-prised of first-class local engineers. This will enable the response to local custom-ers’ needs and their technical problems in the shortest period of time. “Compar-atively speaking, it is easier to expand capacity than to build up a local techni-cal team since the latter part demands long-term dedication. The profound and lasting meaning of this new plant is that it will include an engineering center, which is the critical factor for breaking through the bottleneck of our localization efforts.” said Mr. Zhu.

With the acceleration of localization pro-cess, the management team in Voith Turbo China is also making changes in process. “For the time being, we will cul-tivate our management team in a global-ized setting,” said Mr. Zhu, “we believe we can do a better job by using Voith’s global resources in addition to our Asia Pacific platform to cultivate the local tal-ents.” A management team fully fit into the local climate will be able to hear the voice from local customers, and convert the feedback into information to fuel the innovation ability of Voith Turbo China.

Face to Face

1. The future manufacturing plant of rail vehicle components in China.

2. On December 11, 2014, the ground-breaking ceremony was held in Shanghai for the new rail vehicle parts plant, which marked a brand new starting point for Voith Turbo in China.

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employee, so as to nourish its people’s commitment to long-term service. Only with a highly transparent and open com-munication pipeline, all people may equally communicate in an overt and honest manner, and trust among the or-ganization can be built up.

“Trust is the link that will enable the com-pany to become a united entity.” Mr. Zhu Jinping believes that building up a strong team is all about to: fully trust and em-power the employees, recognize their contributions, and listen to their voices. “It’s just like running a marathon. When you have a clear and visible goal to reach, and encouraged by cheering squads along the way, one will not only be able to touch the finishing line, but also could come up with great records.” That summarizes what Mr. Zhu has learned as a “Voith veteran” after serving the company for nearly 20 years.

Conform to the market development through steady reform

For Mr. Zhu Jinping, 2014 was a year filled with “changes”. After living in the US for 12 years, Mr. Zhu came back to

Build up a strong team with transparency and trust

During last year, the industry was in a gloomy status while the mining market faced its recession and the rail sector with technical problems. Impacted by this mar-ket climate, Voith Turbo had also encoun-tered a few business challenges. As the General Manager and CAO of Voith Turbo China, Mr. Zhu Jinping positioned himself as a cohesive agent to bond the front of-fice and the back office throughout the organization, bridging the gaps in the new structure so as to maximize the productiv-ity of the company as an organic integrity. He has always been convinced that good teamwork is the magic key on overcoming challenges and difficulties. “There is a Chinese proverb: all business is people related. Our business will be able to keep growing if we have a great team.” said Mr. Zhu, “Transparency and trust are the vital factors of building up a great team. As a matter of fact, team building and improving the transparency within the company are my priorities for now.” As a family-run enterprise with nearly 150 years’ history, Voith is fully aware of the importance of establishing mutual trust between the company and

China, again and had to face a familiar yet ever-changing society. Apart from the fact that Mr. Zhu had to adapt the cultural difference between US and Chi-na, the need to re-acquire the Chinese way of expression, he also had to cope with the changes from Voith Hydro to Voith Turbo. Everything, from the prod-uct to the business model and the unfa-miliar team members, is new to Mr. Zhu, but these changes will also be loaded with infinite possibilities.

Voith Turbo managed to deliver good busi-ness growth in spite of the year of 2014 full of uncertainties. Mr. Zhu Jinping and his colleagues in China, by keeping on grop-ing and accommodating the future, will greet 2015 which is a year full of both op-portunities and challenges. Pursuing sus-tainable and long-term growth are the goals of Voith. Voith Turbo will, under the guidance of the Group's strategy, march forward after steady reform so as to push for the process of change. Mr. Zhu ex-pressed that he accepts the reform gladly. He said: “Voith Turbo China is in the mid-dle of changes. The localization process requires us to change in many aspects. In order to keep leading competitiveness in the ever-changing Chinese market, we have to adjust ourselves constantly.”

“As a company of ‘Engineered Reliabili-ty’, we emphasize not only the reliability of our products but also our services.” Mr. Zhu Jinping, General Manager and Chief Administration Officer of Voith Turbo China

Face to Face

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Highlights of the year 2014 in China

January

In January 2014, the Yuen Foong Yu (YFY) No. 3 PM designed by Voith for Yuen Foong Yu Paper Manufacturing (Yangzhou) Co. Ltd. was officially put into operation. The YFY No.3 PM is mainly used to produce industrial pa-per, including packaging paper, with an annual capacity of more than 450,000 tons and an estimated annual output of more than 1.2 billion RMB.

February

Dr. Hubert Lienhard, President and CEO of Voith Group, succeeded the longtime Siemens-CEO Peter Loescher on February 3, 2014, as Chair of the Asia-Pacific Committee of German Business (APA).

Voith was awarded a major contract of the Tarbela 4th Extension Hydropower

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Voith China Training Center was inaugurated on April 23, 2014 in Kunshan, Jiangsu Province.

project in Pakistan. The contract has a total value of around €200 million and includes the supply of three 522MVA generators, three 470MW Francis tur-bines, the automation systems as well as the electrical and mechanical bal-ance-of-plant system.

March

On March 6, 2014, Voith Industrial Ser-vices (Shanghai) received the Glod “Ex-cellent Service Award” during the supplier conference held by Shanghai Volkswa-gen Powertrain (VWPT) in Hangzhou. Voith has won the “Excellent Service Award” every year since 2009 along with the title of “Golden Service Provider” since 2011.

Voith Hydro participated in the Fifth In-ternational Conference on Water Re-sources and Hydropower Development in Asia during March 11 to 13 2014 in

Colombo, Sri Lanka. Voith experts pre-sented four technical papers on differ-ent topics during the Conference.

From March 28 to 30, 2014, Chinese President Xi Jinping conducted state visit to Germany, attending a reception held by Chinese and German business and industry, and the first meeting of the Sino-German Advisory Committee (SGAC). Voith-CEO Dr. Hubert Lienhard acted as chair of APA and German chairman of SGAC, attended the recep-tion along with the meeting.

April

Voith officially opened its China Training Center in Kunshan on April 23, 2014. As the company’s largest training facility out-side of Germany, the center is known for its German-based dual vocational training model, which combines company ap-prenticeship with vocational education.

May

On May 16, 2014, Voith Turbo launched VR115CT, a brand new hydraulic retarder for trucks. This homegrown parallel hy-draulic retarder is developed in consider-ation of the working environments of heavy-duty trucks in China. The improved technical design makes VR115CT stron-ger, lighter, and more efficient and brings better safety and economy performance to vehicle operation.

June

The 2014 Voith Basketball Tournament successfully drew to a close on June 21. Voith Paper Team 1 won the Voith Cup with a 15-point edge over second-place team, Voith Paper Team 2. As the first basketball match that engaged all the operating units in China, this tournament was initiated and approved by the Voith China Human Re-source Council, and organized by VOCS.

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July

On July 11, 2014, Sun Paper has com-missioned Voith with the delivery of three paper machines for production of packaging and graphic paper. This or-der continues the successful partner-ship between Sun Paper and Voith.

Voith was awarded the “Energy Master Award 2014” by Econique Group with its brand new energy-saving, environmentally-friendly fabric plant in Kunshan, China. The plant also received LEED Gold certification from the U.S. Green Building Council.

In July 2014, around 30 trains equipped with gear units from Voith has been ap-plied in the metro lines in the state of Rio

De Janeiro, providing service during the FIFA World Cup in Brazil. This is the first batch delivery of the 60 trains that Brazil-ian rail operation SuperVia ordered from Changchun Rail Corporation, a subsidiary of China CNR Group. The 60 trains are powered with 480 gear units from Voith.

On July 18, 2014, Voith and Cheng Loong Corp. signed the tissue machine con-tract for Cheng Loong TM 16 in Taipei. The TM 16 PM will be installed in Chu-pei, Taiwan, and is scheduled to start up in September of 2015.

September

Voith Hydro Shanghai won the contract for the hydropower extension project of

Lam Takhong in Thailand. As Voith’s first pumped storage project in South-east Asia, the contract has a total value of around €50 million and includes two generators, two stand pump turbines and automation systems.

In early September, 60 Dongfeng trucks and 20 FAW Jiefang LNG truck-tractors equipped with Voith retarder were deliv-ered to ENN Energy Logistics Co., Ltd.

October

Voith China launched its social media platforms, Sina Weibo account “Voith China” and Tencent WeChat platform “Voith Recruiting”, to further promote its corporate branding and employer

1. Voith’s new fabric plant in Kunshan.

2. Voith employees celebrated the 20th anniversary of Voith Hydro Shanghai.

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awareness in China. Please follow @weibo.com/voithchina, and add “Voith Recruiting” on Wechat to find out more.

November

On November 13, 2014, Voith Hydro Shanghai (VHS) celebrated its 20th an-niversary. Dr. Hubert Lienhard, presi-dent and CEO of Voith Group, Dr. Ro-land Münch, president and CEO of Voith Hydro, attended the event togeth-er with VHS employees and guests.

On November 1, 2014, Voith Industrial Services entered into a three-year pro-duction equipment maintenance service agreement with a reputable automotive tier one supplier.

December

On December 11, 2014, Voith conduct-ed the groundbreaking ceremony for its new rail vehicle components plant in Shanghai. With an investment of 300 million RMB, the new plant is scheduled to be completed by May 2016. Scharf-enberg couplers, front-end systems, transmissions and gear boxes will then be produced locally.

On December 11, 2014, Voith opened its new plant in Changshu to provide wheel and tyre assembly service for ve-hicles in China. The plant, with an in-vestment of around 50 million RMB has an annual capacity of assembling 1.1 million wheels and tires.

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On December 28, 2014, the first unit of Li Yuan hydropower station in Yunnan delivered by Voith successfully com-pleted the 72-hour trial operation after one time start up, and then was directly put into commercial operation.

Voith was acknowledged as one of the “2014 Best Human Resource Manage-ment Companies in China” by 51job Inc. On top of this, Voith was also recognized by the organizer as the 2014 Best Organi-zation Development Program Company.

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Joining hands to build trust

After 18 months of groping, Voith Industrial Services and Volvo Chengdu reached a mutual agreement for long-term partnership. Guided by the principle of “creating more value for customers”, Voith Industrial Services always ensure the common development of all parties, and strengthen the confidence between customer and supplier, and between employees and employer.

Voith Industrial Services technical facility management team recognized by Volvo Chengdu

Panorama

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Approximately, one and a half years ago, Liang Yiran returned to Chengdu and joined Voith Industrial Services. As the maintenance supervisor for Volvo Chengdu site, Liang was sedulous, ef-ficient and productive. His responsibili-ties are comprehensive and incorporat-ed several functions such as: collecting equipment data, conducting standard inspections, providing maintenance skills training, providing technical support and proposing solutions to problems with site facilities.

Initially, Liang's return to Chengdu was driven by family commitments; howev-er, he embraced Voith Industrial Servic-es as his second home along with the trust being developed. The tasks can be strenuous with copious deadlines, but he believes Voith’s commitment to its customers and employees that will make is long-term service rewarding. On September 23, the flexible coupling

1. Boiler house of VOLVO Chengdu.

2. Liang Yiran (right) and repair team leader are checking out circulating water pump.

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of the outlet pipes attached to No. 3 and No.10 water pumps of Volvo Chengdu’s chiller plant was disassem-bled. The construction contractor un-dertook repairs on three separate occa-sions but the problem persisted. The damaged pumps led to unscheduled downtime and safety risk to mainte-nance workers, resulting in financial and operational losses to the customer. During a customer’s troubleshooting meeting, Liang’s maintenance team proposed the solution of using a more appropriate type of flexible coupling and revamp of the trestle at the pump outlet. The customer followed the sug-gestion and the problem was immedi-ately eliminated.

Voith Industrial Services, at the end of 2004, was conferred by Volvo Cheng-du with the “2014 Quality Excellence Award”, for its excellent service, “This is an inspiration to us. The win-win comes

from the mutual trust between our cus-tomer and us” said Liang Yiran. Building up trust between employees and em-ployer, and between customer and sup-plier is a strong impetus for the com-mon development of all.

Since August 2012, Voith Industrial Services has been providing Volvo Chengdu with the following services: technical facility management; parts management; technical upgrading and optimization solution; construction management; construction approval check.

Volvo Chengdu Project

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Volunteerism, a lifechanging experinceIt is always true that we give and gain, we grow. we can ever value the satisfaction of reaping the harvest when we sow with hard work and strong dedication. These words strongly personify the experience of being a volunteer by Zhang Hongliu, one of the volunteers for the 2014 Voith charity market event.

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Panorama

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1. Volunteer team for 2014 Voith Charity Auction event.

2. VHS employees showed great passion and dedication to this “do-good” auction event.

3. Zhang Hongliu (left) contributed his first volunteer experience to this charity auction event.

On November 13, 2014, Voith Hydro Shanghai (VHS) celebrated its 20-year anniversary. In the meantime of the cel-ebration, a charity auction event was held in collaboration with VOCS to make collective efforts to give back to the community. It also symbolized a big step of corporate social responsibility stewardship for Voith in China.

The process was simple: auction items were contributed by management team from VHS and VOCS, and went to auc-tion joined by all VHS employees. The fund raised by the auction was donated to a primary school for children from migrant family in the neighborhood com-munity to support them develop a rec-reational classroom. Zhang Hongliu, a member of the volunteer team, had

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been involved into the event planning, execution and on-site support. The team’s efforts and the passion and ded-ication by Voith people made this first-ever CSR event a success.

“This experience had a tremendous im-pact on my life.” said Zhang, “Growing up, I allowed many volunteering oppor-tunities to bypass me, as I used to think that volunteers’ work was unproduc-tive. I did not fully appreciate and un-derstand the actual meaning of volun-teerism until subsequent to the auction when many team members and friends expressed appreciation and commen-dation for the quality of the event.” Right after the event, many of Zhang’s fellows indicated to him that “the event was great”, which made him realized that

the personal contribution has brought change to the life of the school kids. Vol-unteers not only help people who need help, but also encourage more people to participate and promote the spirit of dedication.

That is the ultimate vision of this program: This do-good mindset will grow into sustainable practices from this onetime activity, and the endeavors will become a spirit and develop into a habit of more people. By being a volunteer, you will not only help others, but also change your attitude toward life. “In the past, charity always came across to me as something too ‘far out of reach’, said Zhang: “I have now realized that what is most important is a sincere heart. And I’m strongly convinced that our grateful hearts are just like those seeds, spread-ing love to all corner of the world.” Where there is love, there is a dream. Time passes and life moves on, but a good heart full of love will never become old. And a beam of sunshine from us would brighten the rainy souls.

So would you like to join us?

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Masthead

Published byVoith Corporate Management (Shanghai) Co., Ltd. Corporate CommunicationsBlock A-D, 21/F Mirae Asset Tower 166 Lujiazui Ring Road, Pudong 200120 Shanghai, PRC

Editorial staff Clare Chen, HydroFay Hu, Industrial ServicesDaisy Zhu, PaperWendy Jiang, TurboAudrey Rong, VOCS

In cooperation withChen Nuo

PrintingChang Xin Long

PhotographsAll photos provided by Voith China

CopyrightCopying and reproduction of any articles or pictures requires the prior consent of Voith Corporate Management (Shanghai) Co., Ltd.

Voith Regional Report China is published in Chinese and English.

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