CHANGAN AUTOMOBILE TAKES OVER JIANGLIANG AFFILIATE
AsiaInfo Services, December, 2004
AsiaInfo Services 12-13-2004 Changan Automobile Takes Over Jiangliang Affiliate CHONGQING, Dec 13, 2004 (SinoCast via COMTEX) -- Chongqing Changan AutomobileCo., Ltd. (SSE: 000625), Ford's biggest Chinese partner, announced on December 9 that it had made an additional investment of CNY 450 million in cash in Jiangxi Jiangling Holding Co., Ltd.
and controlled it. Jiangling Motors Co., Group, which makes Ford Transit vans, injected the 354.176 million shares (41.03% of the total stock capital) it owned in Jiangling Motors Co., Ltd. into the holding company. "As a partner to both Changan and Jiangling, we are very happy that they are moving closer together,'' said Ford's China spokesman Kenneth Hsu in Shanghai. "Their collaboration will help Ford in our future...
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