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Old 12-10-2019, 01:06 PM   #13
Join Date: Nov 2013
Posts: 7,682
Default Disposal of FAW Xiali

Tianjin FAW Xiali will leave the FAW group, be transferred without compensation to China Railway Materials Co., Ltd. as a mere shell company and cease to exist as a carmaker (further details in the articles). It will still remain a bourse-listed company. FAW Xiali's existing assets and liabilities will be transferred to a designated subsidiary of the FAW group. The automobile production license will be transferred to (or converted to a new license for) the new JV Tianjin Bordrin, 80% of which is held by Nanjing Bordrin New Energy Auto.

Last edited by dmitra; 12-10-2019 at 01:09 PM.
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