Baoding Changan Bus to Be Fully Bought by Chang’an Auto
2011-03-03 Source：www.chinabuses.org
www.chinabuses.org: It is learned that Chongqing Changan Automobile Group is going to purchase 100% shares of Baoding Changan Bus Manufacturing on March 1.
Sales revenues of Changan Bus amounted to 0.81 billion Yuan, profiting 7,970,000 Yuan, and their net asset are 0.15 billion Yuan till end of 2010. Chang’an Auto deems that the light buses business of Changan Bus can expand their product lines.
Changan Group has long been willing to expand business on light commercial vehicles. Changan Group signed agreement with PSA on light commercial vehicles and passenger cars last July, and 200,000 vehicles and 200,000 engines can be produced in the first stage program. It is learned that the main strategy for Changan Auto is to forge an auto giant with comparatively complete product lines.
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