Next Owner of XAB: Tiansheng? C&U? Yuchai?
Resource from: cbcc-yinx Likes:2968
Dec 20,2005
With the comming of 2005's winter, an equity ownership contest had been triggered in Hubei province, China.
Ningbo Tiansheng Group, C&U Group and Guangxi Yuchai Group began to compete with each other for the equity ownership of XAB(Xiangyang Automobile Bearing Co.,Ltd).
Related News of XAB
As the administrative party of XAB's equity transfer, Xiangfan Government said that :"We paid more attention to this event this time, the former Greencool case had made a terrible effect in the society. If we failed to find the right owner for XAB again, we'll feel shame and not be qualified to be the governor. Additionally, in recent years, there were lots of local enterprises went bankruptcy by introducing private capitals. Therefore, we prefer some state-run and bearing related enterprises to get the ownership of XAB."
Among the three candidates, only Guangxi Yuchai Group is state-run enterprise. We can see clearly the local government's intention. But such an important case can't be fixed on easily, its also subjected to many other factors. So we can't assure whom of the three could win the competition untill the final result come out. It is said that this result will be worked out by the end of 2005 or even later to early 2006.
About the three candidates
Ningbo Tiansheng Group
Tiansheng Group, founded by its president Mr. Ding yi, have altogether 8 subsidiaries, including Ningbo Tiansheng Bearing Co.,Ltd, Shanghai Tiansheng Needle Roller Bearing Co.,Ltd, 3 trading companies and 2 administration offices. In addition, the group also have representative offices in USA.
C&U Group
C&U Group, founded in 1991, is a manufacturing, trading and distributing integrated group company with its head office in Wenzhou city, Zhejiang province. They have over 103 fully or partial owned subsidiaries in China, Japan and USA. Bearing, M.E.equipments and super market are their major business. What's more, C&U Group is the second largest share-holder of XAB with the 1.99percent possession of XAB's equity.
Yuchai Group
Yuchai Group is a state-run enterprise with long history. With 27 fully or partial owned subsidiaries, they are the largest manufacturer of internal combustion engines and the largest manufacturer and exporter of medium and small engineering machineries. In 2004, their sales reached 10.7billion yuan.
(cbcc-yinx)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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