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July 18 – Jiangling Motors Corp (SHE: 000550), a light-duty pickup maker, stepped into the heavy-duty truck market by buying out Taiyuan Chang'an Heavy Vehicle Co from China South Industries Group Corp and China Chang'an Automobile Group for ¥270 million. Taiyuan Chang'an Heavy Vehicle posted ¥432 million in revenues and ¥139 million in losses last year.
http://www.yicai.com/news/2012/07/1909179.html
July 17 – Five Chinese hotels have received a total of $288 million in investments so far this year, according to ChinaVenture. That amount is set to exceed the $311 million seen in 2007, the highest annual amount seen over the past decade.
http://news.chinaventure.com.cn/2/20120717/91867.shtml
July 16 – Zhejiang Chint Electronics Co (SHA: 601877) said it plans to pay ¥315 million for a 70% stake in Shanghai-based Xinhua Group, an industrial control system manufacturer. The target company posted ¥31.4 million in revenues and ¥5.57 million in losses for Q1 2012.
http://www.yicai.com/news/2012/07/1905217.html
July 13 – Bohong Group, a private automaker based in Sichuan province, said it will spend $240 million buying out Wescast Industries Inc, a leading exhaust manifold manufacturer based in Canada. The money will include $83 million in debts. Wescast, which currently operates seven plants and seven technical support centers worldwide, chalked up a $4.5 million net loss last year.
http://www.yicai.com/news/2012/07/1902032.html
July 12 – Sichuan Yahua Industrial Group Co (SHE: 002497) said it plans to spend ¥475.27 million acquiring Sichuan-based Kaida Chemical Industry Co. Kaida posted ¥274.29 million in revenues and ¥51.38 million in net profits for 2011.
http://www.yicai.com/news/2012/07/1894494.html
$1 = ¥6.37
@2011 China Economy @ The China Perspective.
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