Rheinmetall and Riken set up joint venture in China

Riken

18/09/2015 09:01

FRANKFURT, Sept 18 (Reuters) - Germany's Rheinmetall 
 RHMG.DE  and Japan's Riken have agreed to set up a joint 
venture to make piston rings in the province of Hubei in central 
China, Rheinmetall said on Friday. 
    The German automotive and defence group said the venture, 
which would produce mainly for automotive customers in China, 
would consolidate its worldwide alliance with Riken, with whom 
it already has a strategic alliance.  ID:nFWN0XL078  
    Under the agreement, Rheinmetall's subsidiary KS 
Kolbenschmidt will take 30 percent of the shares in Riken 
Automobile Parts (Wuhan) Co. Ltd and have a seat on the 
management board. No financial details were disclosed.  
 
 (Reporting by Georgina Prodhan; Editing by Harro ten Wolde) 
 ((georgina.prodhan@thomsonreuters.com; +49 69 7565 1279; 
Reuters Messaging: 
georgina.prodhan.thomsonreuters.com@reuters.net)) 
 
Keywords: RHEINMETALL RIKEN/CHINA