China's FAW eyes Volvo truck engine unit
Published: 20 Aug 2009 18:59:07 PST Shanghai, August 20 (Gasgoo.com) First Automotive Works (FAW) is now holding preliminary talks with Volvo Group's engine unit on a possible acquisition, Chinese newspaper Beijing Times reports Thursday, quoting people familiar with the case.The informed people said a group of representatives of FAW have already gone to visit Volvo Penta, an affiliate of Volvo Group, in Sweden and would negotiate about purchasing Volvo's truck engine business.
Gao Yuan, FAW Group's spokesman, and Jiang Lan, vice-president of Volvo (China) Investment Co, both denied any knowledge of the deal.
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