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Assets - China - Heavy-duty truck maker to restructure assets
Shanghai,China -Shanghai Daily,k by Jin Jing -15 Aug 2006: -- China National Heavy Duty Truck Group Co Ltd plans to transfer its core assets to its listed unit to help improve profitability, the company said yesterday... CNHTC Jinan Truck Co Ltd, the listed unit of CNHTC, intends to sell an additional 68.66 million shares at 8.01 yuan (US$1) each to the parent, according to a statement filed with the Shenzhen stock market yesterday... The Shandong Province-based company plans to use the 550 million yuan from the sale to buy core assets from CNHTC, also known as Sinotruk, to streamline its manufacturing process and reduce its 89 percent asset-to-liability ratio, the statement said. Those assets include a 51 percent stake in Sinotruk's axle and transmission facility and some land...
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