News Videos
International Edition


May 29, 2017

Breaking News, World News and Taiwan News.
About Us
Contact Us

China's Shandong Heavy Industry Group signs US$928 mil. deal to buy stake in Kion Group

SHANGHAI -- China's Shandong Heavy Industry Group on Monday signed a 738-million-euro (US$928 million) accord to buy stakes in German forklift maker Kion Group and its hydraulics business, state media said.

Weichai Power, the automotive and equipment manufacturing unit of state-controlled Shandong Heavy Industry, will pay 467 million euros for a 25-percent stake in Kion itself, the official Xinhua News Agency reported.

The unit will spend another 271 million euros for a 70-percent stake in Kion's hydraulics business as part of the deal, it said.

The deal is expected to help Shandong Heavy Industry expand into the international market.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive our promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search