Business Activities News
- Caterpillar to buy stake in Xingma
Date: 22-May-2007 Sources: (Shenzhen Daily)
CATERPILLAR Inc. is expected to buy a 20 percent stake in construction truck maker Xingma Automobile Group Co., parent of Shanghai-listed Anhui Xingma Automobile Co., the China Business reported yesterday.
The U.S. company has signed a letter of intent to set up a truck engine joint venture with Xingma Automobile Group, the report said. Xingma Automobile Co. is likely to issue new shares to its parent for an unidentified stake in the venture, according to the report.
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