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Business - China - Iveco sells Changjiang stake for US$1
Beijing,China -People's Daily Online -August 17, 2006: -- Iveco, the commercial vehicle division of Italian industrial group Fiat, has pulled out of a bus joint venture in East China's Jiangsu Province... Iveco had sold its 50 per cent stake in the bus venture to the Chinese side, Changjiang Bus Group, based in Changzhou, Jiangsu Province, for just US$1... The move paves the way for Iveco's truck-making partnership with Shanghai Automotive Industry Corp (SAIC) China's top vehicle producer... Last month, Iveco agreed with SAIC to form a joint venture and invested 120 million euros (US$151 million) in a new heavy-duty truck plant in Southwest China's Chongqing Municipality...
posted by Unknown @ 12:24 PM
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