GUANGZHOU WANBAO FORGING A NEW JV WITH HITACHI
AsiaInfo Services, August, 2003
AsiaInfo Services 08-22-2003 Guangzhou Wanbao Forging a New JV with Hitachi GUANGZHOU, Aug 22, 2003 (SinoCast via COMTEX) -- A JV signature ceremony was held in Guangzhou on August 15, 2003 by Guangzhou Wanbao Group Co., Ltd., Japan-based Hitachi Air-conditioner System (HAS), and Taiwan Hitachi Stock Ltd.
(THSL). They founded Guangzhou Hitachi Compressor Co., Ltd. (GHCCL), the ninth joint venture set up by Guangzhou Wanbao. A total of USD 23.5 million was invested into GHCCL. Guangzhou Wanbao invested with equipment, holding 40% of the stock. HAS and THSL did with cash, respectively holding 35% and 25% of the stock respectively. It is estimated that THSL will produce and sell 150,000 units per year by 2004, and 300,000 units in the coming 4 years. Mr. Xi,...
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