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11-10-2007
Chery
Automobile, based in Wuhu city of the eastern province of Anhui, has bought the
local Wuhu Shipyard and is restructuring it.
"Chery expands its business
scope by foraying into the very promising shipbuilding industry," a company
official was quoted as saying. "Moreover,
the shipyard operations will support the prompt delivery of our auto exports,
increasing exports and lowering inventory. Chery expects to double its exports
in 2007 from last year to 100,000 cars." The
company has also previously said that it was building a new port in Wuhu, which
sits along China's Yangtze river, to facilitate auto exports. A new plant that
starts operation in October would help add another 250,000-300,000 units to its
annual capacity of 400,000 units, the company said when it turned out its millionth
car in August.
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