![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKMAKERS' NEWS * China - NEW PLAYER: China's CIMC plans $59 mln truck venture
Shanghai,China -Reuters, by Fang Yan, & Jacqueline Wong -Jan 23, 2009: -- China's CIMC, the world's largest shipping container maker, said on Friday one of its subsidiaries had agreed to set up a truck manufacturing venture with two domestic partners capitalised at 400 million yuan ($58.5 million)... CIMC will hold a 45 percent stake in the venture, mostly making medium and heavy trucks, it said in a statement... Initial investment in the venture, expected to start production in 2011, will be 2 billion yuan, it said... CIMC also said it expects a 40 percent to 60 percent fall in its net profit in 2008 as the global financial crisis takes a toll on ocean shipping demand... Unaudited net profit in 2008 was about 1.5 billion yuan compared with 3.17 billion yuan in 2007. ($1=6.837 Yuan)...
Labels: truckmakers' news worldwide
posted by Unknown @ 7:39 AM
0 Comments:
Post a Comment
<< Home