|
|
|
|
|
|
|
|
|
|
|
| . |  |
. |
|
|
|
 by Staff Writers Frankfurt (AFP) Feb 11, 2015
German engine maker Deutz said Wednesday it has agreed with Swedish truck maker Volvo to pull the plug on their planned joint venture in China. "Having completed a thorough and comprehensive review, (Deutz and Volvo) have now agreed that the planned production company should be wound up given the weak prevailing market situation in China," Deutz said in a statement. The two partners had not yet invested substantial sums in the joint venture, which had been expected to be set up at the end of this year, the statement added. Nevertheless, Deutz insisted that it remained "convinced of the Chinese market's long-term potential." It will therefore continue to use "Chinese production facilities in order to meet local demand," it said. Since 2007, Deutz has been operating a joint venture with First Automotive Works (FAW) Group, one of China's leading vehicle manufacturers. The venture, Deutz (Dalian) Engine Co., makes three- to eight-litre diesel engines, primarily for the Chinese market. spm/gd
Related Links Car Technology at SpaceMart.com
|
|
| ||||||||||||||||||||
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |
del.icio.us
Digg
Reddit
Google
