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| Thursday, November 20, 2008 23:46:45 |
Weichai Power gains dual listing approval
Weichai Power, a major diesel-engine maker in the Mainland, will gain a dual listing in Hong Kong and China after the completion of its strategic merger with Torch Automotive gRoup, a Shenzhen-listed heavy trucks and gearboxes producer, The Standard reported.
Torch Automotive shares would then be delisted and canceled, with its subsidiaries becoming part of Weichai Power, said the paper.
"Though the acquisition, Torch's heavy-duty gearbox production can integrate with our heavy-duty truck engine business to become a complete heavy duty truck manufacturing chain," said Weichai chairman Tan Xuguang.
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