MAN buys EUR560m stake in Sinotruk
Published: 19 Jul 2009 19:31:34 PST Shanghai, July 17 (Gasgoo.com) German truck maker and engineering company MAN SE said Wednesday that it would pay EUR560m for a 25 per cent stake in Sinotruk, China's largest manufacturer of heavy trucks, in a deal for the two parties to jointly tap into emerging export markets.Through the deal MAN will become the company's second-biggest shareholder in Sinotruck, next to its parent China National Heavy Duty Truck Corp, which holding 51%.
Sinotruk aimed to produce the new trucks using MAN technology that the German company license to it within the next two to three years, said MAN CEO Hakan Samuelsson.
He added that the trucks would be targeted for export to markets including Brazil, Russia, Africa and India.
Full Story
Go to Page
Page 1 of 1
1
Source:
gasgoo.com
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 3Entrepreneurblues
- 4Beyond The Anti-Virus Arms Race
- 5ANALYSIS-CFTC cautious on position limits, set
- 6Beware of phishing scams if you are using
- 7Help protect yourself from phishing scams and
- 8INTERVIEW-StanChart eyes $800 mln in renewable
- 9China Longyuan Power plans HK$17.5-bln HK IPO
- 10Xi'an to launch industrial zone
