Companies / China
Chinese Super-Merger A Step Closer
August 2007 | Industry NewsCo-operation between Chinese carmakers Nanjing Automobile Corp (NAC) and Shanghai Automotive Industry Corp (SAIC) has taken a further step forward with an announcement that the two have agreed an asset swap and a design, production and sales partnership. A letter of intent has been signed, aimed at devising a strategy for "passenger cars, commercial vehicles and independent brands, as well as automotive parts and component manufacturing." The next step will be for both companies to begin due diligence
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