Brief: China Automotive Systems Establishes Joint Venture With KYB Investment Co For EPS Systems

China Automotive Systems

03/05/2018 11:09

May 3 (Reuters) - China Automotive Systems Inc  CAAS.O :
    * CHINA AUTOMOTIVE SYSTEMS ESTABLISHES JOINT VENTURE WITH
KYB
(CHINA) INVESTMENT CO., LTD. FOR EPS SYSTEMS
    * CHINA AUTOMOTIVE SYSTEMS - NEW JV, HUBEI HENGLONG KYB
AUTOMOBILE
ELECTRIC STEERING SYSTEM, IS WITH JAPAN KYB CO LTD'S KYB (CHINA)
INVESTMENT CO
    * CHINA AUTOMOTIVE SYSTEMS - HUBEI KYB PLANS TO INVEST ABOUT
RMB
960 MILLION IN JV AND HAVE REGISTERED CAPITAL OF RMB 320 MILLION
    * CHINA AUTOMOTIVE SYSTEMS - JV'S BOARD WILL CONSIST OF 5
DIRECTORS, 3 OF WHOM WILL BE APPOINTED BY CAAS INCLUDING
CHAIRMAN
    * CHINA AUTOMOTIVE SYSTEMS - CO'S PARTICIPATION WILL BE RMB
213.12
MILLION FOR 66.6% OWNERSHIP, FUNDED BY IN-KIND AND CASH

Source text for Eikon:  ID:nPn2lmZ4Na 
Further company coverage:  CAAS.O 

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