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30-07-2007
U.S.
auto-parts supplier ArvinMeritor Inc. will form
a joint venture with Chinese auto maker Chery
Automobile Ltd. to build chassis systems, The
Wall Street Journal reported Wednesday.
The deal will not only help ArvinMeritor to
boost its Asian sales, but also give the U.S.
company a larger foothold in the rapidly growing
Chinese automotive industry and a low-cost base
to develop and build chassis systems, said the
report.
While
the joint venture will focus on serving Chery
at first, ArvinMeritor is the majority owner
with a 60 percent stake, and the venture can
eventually serve other auto makers, according
to the report.
The
joint venture, ArvinMeritor Chassis Systems
Wuhu Co., will evolve into a business with 150
million U.S. dollars in annual revenue by 2010,
the company said. ArvinMeritor will provide
design, engineering and manufacturing support,
and production will begin in 2008.
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