LITTLE SWAN TO MARRY GE CHINA
AsiaInfo Services, October, 2007
AsiaInfo Services 10-11-2007 Little Swan to Marry GE China BEIJING, Oct 11, 2007 (SinoCast via COMTEX) -- Wuxi Little Swan Co., Ltd. (SZSE: 000418), China's famed washing machine maker, is to sell a 30% stake in its arm Wuxi Little Swan General Appliance Co., Ltd. to GE China Co., Ltd. The selling price will amount to USD 7.1 million, according to the equity agreement issued by the two parties. Founded in the eastern Chinese city of Wuxi on June 28, 2004, Little Swan General Appliance is a wholly owned subsidiary of Little Swan.
It always commits itself to manufacturing load washers. By the end of August 31, 2007, the company had achieved total assets, net assets, and loans of CNY 177.28 million, CNY 87.11 million, and CNY 90.17 million, respectively. ...
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