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Michelin says it will take control of Chinese group
Paris (AFP) July 17, 2009 French tyre maker Michelin said on Friday it would take control of Shanghai Michelin Warrior Tire (SMWT) company, acquiring the 30 percent stake in the Chinese group that it does not now own. SMWT is currently 70-percent owned by Michelin, with the remainder of capital controlled by Double Coins Holdings, 28.5 percent, and Shanghai Minhang United Development, 1.5 percent. Both groups had signalled a willingness to withdraw from SMWT, which operates two plants in China. Share This Article With Planet Earth
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German MAN to buy 25 percent of Chinese SinotrukFrankfurt (AFP) July 15, 2009 The German heavy truck maker MAN unveiled a key Chinese investment Wednesday, saying it would buy 25 percent plus one share of the country's leading truck maker, Sinotruk. The transaction, part of a "long-term strategic partnership," would involve a capital increase in the Chinese group and was worth 560 million euros (787 million dollars) in all, a joint statement released by MAN said. ... read more |
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