China
        

From Chinese Media

Hainachuan to buy Netherlands firm

Updated: 2011-04-29 13:25

By Hao Yan (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Beijing Hainachuan Automotive Parts Co Ltd (Hainachuan) will acquire 100 percent of the stock of the Netherlands' Inalfa Roof Systems Group (IRS), China Business News reported Friday, citing an internal announcement from the Netherlands company's China office.

Related readings:
Hainachuan to buy Netherlands firm Latest BAIC deal bolsters gearbox tech in own brands
Hainachuan to buy Netherlands firm BAIC buys assets of Swedish transmission plant
Hainachuan to buy Netherlands firm China's BAIC eyes overseas expansion
Hainachuan to buy Netherlands firm 
BAIC builds subsidiary for own brand name cars

Beijing Automotive Industry Holding Co Ltd, which holds a 60 percent share in Hainachuan, will keep IRS's management team and its headquarters in the Netherlands, the newspaper reported.

Hainachuan and IRS, which makes automobile sunroofs, signed the stock transfer agreement on April 16. The companies expect to complete the stock transfer in June following government approval, which might take six to eight weeks, the report said.

Hainachuan is a joint venture of Beijing Automotive Industry Holding Co Ltd and Beijing Industrial Development Investment Management Co Ltd.

Specials

British Royal Wedding

Full coverage of the royal wedding of Prince William and Kate Middleton in London. Best wishes

The final frontier

Xinjiang is a mysterious land of extremes that never falls to fascinate.

Bridging the gap

Tsinghua University attracts a cohort of foreign students wanting to come to China.

Costly dream
Models gear up car sales
Urban breathing space