Related News
Planned venture called off
Print Edition
GERMAN engine maker Deutz yesterday said it has agreed with Swedish truck maker Volvo to pull the plug on their planned joint venture in China.
“Having completed a thorough and comprehensive review, (Deutz and Volvo) have now agreed that the planned production company should be wound up given the weak prevailing market situation in China,” Deutz said in a statement.
The two partners had not yet invested big sums in the joint venture, which had been expected to be set up at the end of this year, the statement added.
Nevertheless, Deutz insisted that it remained “convinced of the Chinese market’s long-term potential.”
It will therefore continue to use “Chinese production facilities in order to meet local demand,” it said.
Since 2007, Deutz has been operating a joint venture with First Automotive Works (FAW) Group, one of China’s leading vehicle manufacturers.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
