Three Companies Set up Conglomerate in Shandong

English.chinabuses.com:According to the news from Shandong province shows that it will build an auto giant in the near future. A leading engine maker, an earthmover manufacturer and Shandong Auto Industrial Group will merge to create an industrial conglomerate in Shandong province with sales projected to exceed 100 billion yuan by 2012. Currently, all of these three companies base in the eastern province of Shandong. They do not elaborate on the details, such as the financial terms, the timetable and the future structure, etc.

 

All of these three companies say the positions of their controlling shareholders would remain unchanged.

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