综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Economy

Markets

Industries

Insights

Reports

Events

Geely buys Australian auto parts supplier

By Li Fangfang (China Daily)
Updated: 2009-03-28 09:08

Geely Holding Group, one of China's biggest private carmakers, said on Friday it has acquired Australian automatic transmission supplier Drivetrain Systems International (DSI), to boost its capability in automobile parts technologies.

Related readings:  Geely says to redeem outstanding convertible bonds  Geely Auto mulls M&A if timing is right  Geely says no plans to buy Ford's Volvo car unit  Geely to add five new cars a year

The Zhejiang-based carmaker will introduce DSI's products and technologies in the domestic automobile market and help DSI look for low-cost parts sourcing opportunities in China, Geely said in a statement.

The deal would also provide funds to the ailing Australian company's development and research on new products to maintain its leading position in the global market.

Geely will retain the DSI brand and its independence to ensure services to global clients, the statement said.

However, the company did not disclose any financial figures and details about the transaction.

DSI, with more than 80 years of history, was OEM (original equipment manufacture) supplier for leading automakers like Ford, Chrysler and Ssangyong Motor. It has an annual capacity of 180,000 automatic transmission systems.

The Australian company, entered bankruptcy proceedings in February as the global industry downturn weighed on some of its clients, Geely said in the statement.

"It's an encouraging attempt by Chinese automakers," said Chen Wenkai, CEO of gasgoo.com. "Local producers like Geely can boost their development capability in core parts technologies through the acquisition."

Geely, should however, pay more attention to the sustainable development of DSI's technologies, he said. "Geely has to break through the bottlenecks of technology management and innovation capacity to make the acquired technologies their own."