FAW in acquisition talks with Volvo Group's truck engine unit
Published: 20 Aug 2009 01:21:07 PST|
Aug. 20, 2009 (China Knowledge) - First Automotive Group Corp, the largest auto maker in China, is in preliminary talks with Volvo Group's truck engine unit on a possible acquisition, said people familiar with the matter, sources reported. The people said that FAW had sent company representatives to visit the truck engine-manufacturing unit of Volvo, Volvo Penta, in Sweden, and the two sides would hold talks on acquiring the truck engine business. Company executives from FAW and Volvo (China) Investment Co both said they were not aware of the deal. FAW and Volvo currently have a joint venture in Wuxi, Jiangsu Province. The JV is engaged in development and production of diesel engines. Volvo Penta is the world's leading supplier of engines and complete power systems for marine and industrial applications. Copyright © 2009 www.chinaknowledge.com |
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