WABCO forms joint venture with Fuwa
Dec 1, 2008 12:00 PM
WABCO Holdings Inc. has signed a letter of intent with GuangDong Fuwa Engineering Manufacturing Co Ltd to form a joint venture for production of air disc brakes in China. Fuwa is a manufacturer of commercial trailer axles.
The joint venture agreement likely will be completed by year-end, and WABCO should have a 70 percent holding and Fuwa a 30 percent holding in the joint venture. It will be at Fuwa's newly established manufacturing facility in Taishan, Guangdong, China.
The proposed joint venture will encompass manufacturing, assembly, and testing of air disc brakes for commercial trailers.
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