Sinotruk to march into medium and light truck

(chinatrucks.com, August 24, 2010) Southwest commercial vehicle shares controlled by Sinotruk is holding the ceremony at Chengdu wangpai company on August 23th, 2010. Chengdu Wangpai and Sinotruk have signed cooperation agreement in 2010 in accordance with strategic cooperation and win-win cooperation elaborated in “Auto Industry Adjustment and Development Plan”.

According to the agreement, Sinotruk will invest Chengdu Wangpai by the way of “increase assets and expand shares”. Registering assets of Chengdu Wangpai have achieved 100 million Euros. Both parties are devoted to make Chengdu Wangpai could produce heavy, medium, light and mini series commercial vehicles with annual capacity of 400,000 to 500,000. Chengdu Wangpai is expected to become an exceptional commercial vehicle production base in China with revenue of 4 billion Euros to 5 billion Euros.

Both parties have signed the agreement on June 25th 2010 in accordance with the introduction. After a long time period negotiation, Sinotruk and Chengdu Wangpai have reached the agreement and signed on August 23th, 2010.

Views:0