Weichai Power Heads for Bus Industry as the Controlling Shareholder of Yaxing Coach

www.chinabuses.org:On 8 March 2011, Yaxing Coach publicly announced that Yaxing Group has signed the agreement "about the change of state-owned shares of Yaxing Coach (51%)" with Weichai Power Yangzhou and Weichai Power Yangzhou became the controlling shareholder of Yaxing Coach. That is to say, Weichai Power Group will head to bus industry; actually it owns 99% of the shares of Weichai Power Yazhou.  

It is known that the shares of Yaxing Group reduce to 2.71% from 53.71% and the ultimate control is Shandong Province State-owned Assets Supervision and Administration Commission. According to the announcement, Weichai Power Yazhou is the corporation wholly owned by Weichai Group and its owned subsidiary: Shandong Weichai Import & Export Corporation for this acquisition. It has not yet referred to actual production and operating activities since its foundation on 12 January 2011.

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