|
|
Article: Cummins and Beiqi Foton Motor Sign Joint Venture Feasibility Study to Produce Light-Duty Diesel Engines in China.
- Article from:
- Business Wire
- Article date:
- March 7, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
BEIJING -- Cummins Inc. (NYSE:CMI) and China's Beiqi Foton Motor Company (Beiqi Foton) today announced they have signed a feasibility study plan for the formation of a 50/50 joint venture company to produce two types of light-duty diesel engines for use primarily in the commercial market.
Beijing Foton Cummins Engine Company will be based in Beijing and will produce two types of engines based on Cummins designs. The feasibility study is the last step before Cummins and Beiqi Foton, a publicly-traded company based in Beijing, sign the joint venture agreement, and it outlines the parameters of the partnership. The joint venture is expected to begin operation in ...