Stocks News
- GE to buy unit of Little Swan
Date: 11-Oct-2007 Sources: (Shenzhen Daily)
GENERAL Electric Co. has agreed to buy a 30 percent stake in a unit of Shenzhen-listed washing machine maker Wuxi Little Swan for US$7.1 million.
GE will help Little Swan to sell washing machines overseas and both sides will cooperate on research and development, Little Swan said in a statement yesterday. Little Swan, based in the eastern Chinese city of Wuxi, in August severed an alliance with Matsushita Electric Industrial Co. by selling stakes in two ventures with the Japanese company.
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