GERMAN STEEL GIANT GAINED CONTROL OF SHANDONG CRANKSHAFT MAKER
AsiaInfo Services, January, 2006
AsiaInfo Services 01-16-2006 German Steel Giant Gained Control of Shandong Crankshaft Maker SHANDONG, Jan 16, 2006 (SinoCast via COMTEX) -- Germany-based steel giant ThyssenKrupp has obtained a controlling 51% stake in Tianrun Crankshaft Co., Ltd. for EUR 50 million, according to local media. Shandong-based Tianrun Crankshaft is jointly set up by Shandong Crankshaft General Plant and the US-headquartered financial services provider, Merrill Lynch. With over 60% of market shares in China, Tianrun is at present the country's largest professional crankshaft producer. It provides products to most of the nation's major engine manufacturers such as Wuxi Diesel Engine and Dalian Diesel Engine of the First Auto Works(FAW), Guangxi Yulin Diesel Engine, Shanghai Diesel...
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