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Fairtheworld Comments: China Sinotruk's Sales Gain Amid Crisis, German MAN Seeks to Buy Shares

2009-07-16 23:04 1072

HONG KONG, July 17 /PRNewswire-Asia/ -- On July 15, Europe Industrial Group MAN Germany signed a series of agreements with China Sinotruk, offering 560 million Euros to buy 25% of the Chinese company's shares. Also, MAN will commission Sinotruk to produce trucks and engines, laying down foundations for Sinotruk's next move to produce new truck models. The cooperation enables Sinotruk to gain exclusive commission on the manufacturing of MAN's engines, and enjoy sustained technical and management support from MAN. On the other hand, MAN will own Sinotruk's business channels within China, sharing the benefit of the nation's economic incentive.

China Sinotruk is not immune from the financial crisis, yet with the implementation of China's 4 trillion Yuan stimulus plan, Sinotruk and other truck makers will see a spate of orders. Fairtheworld.com points out that, with further implementation of the stimulus plan, China's infrastructure construction will gain more input, and associated industries will see huge quantities of orders. Meanwhile the global gloom is imposing woes on many enterprises. The strong coalition between international enterprises and Chinese companies will help fuse advanced technology and wide market, therefore change the imbalanced situation and spur win-win cooperation.

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Source: Fairtheworld
Keywords: Transportation
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