Home / Business / Auto Tools: Save | Print | E-mail | Most Read | Comment
Baosteel, SAIC reach auto tooling agreement
Adjust font size:

Baosteel Group Corp and Shanghai Automotive Industry Corp agreed to take a 35-percent stake each in Nanjing Motor Group Tooling Co (NTC) as they aim to restructure the former Nanjing Automobile (Group) Corp unit.

The deal, signed yesterday and which will boost investment in NTC, underscores the further ties between China's leading steel maker and auto manufacturer, Baosteel said.

Dong Hua Company, a venture between SAIC and Yuejin Auto Group, will take the remaining 30 percent.

SAIC in December agreed with Yuejin, parent of Nanjing Auto, to merge with Nanjing Auto.

(Shanghai Daily February 29, 2008)
Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- SAIC, Nanjing Auto to sign on merger
- Nanjing Auto Unveils Plans to Produce MGs in US
- Nanjing Auto Set to Make MG Cars
Most Viewed >>
- China to consider RMB center in HK
- Pearl River Delta sees new era for 'Made-in-China' label
- Share market shakes drag consumer confidence down
- More Chinese businesses shift from exports to home market
- China still a magnet for foreign investment

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?