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Autobahn International Signs Memorandum of Understanding with India Trade to Create India Autobahn Automobiles and Ancillaries Private Limited

VANCOUVER, B.C.--(BUSINESS WIRE)--April 4, 2006--Autobahn International, Inc. (Pink Sheets: AUBI.PK) Upon final signatures of contractual agreement between Autobahn International and India Trade, Autobahn International and India Trade Ltd. signed, on February 3, 2006, a Memorandum of Understanding to create a limited company called India Autobahn Automobiles and Ancillaries Private Ltd.

Upon completion of the contractual agreement, Autobahn will hold 51% of India Autobahn Automobiles and Ancillaries Private Ltd. and India Trade will hold 49% of India Autobahn Automobiles and Ancillaries Private Ltd.
About Autobahn
Autobahn International, Inc. is an acclaimed importer of automobiles and automotive technology. Established in 1986, Autobahn's mandate is to deliver quality automobiles and leading edge automotive technology at preferential price points. With its acquisition of ZX Auto Group, Inc. (www.zxauto.com), on December 1, 2005, Autobahn has become a leading representative of Chinese automobile manufactures to the world.
Legal Notice Regarding Forward Looking Statements
The statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results are forward- looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain " forward- looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
source:http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20060404005958&newsLang=e
 

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Zhongxing ownership

Apparently Autobahn International acquired ZX Auto Corporation only. I don't believe it acquired the manufacturer Hebei Zhongxing Automobile Group, Ltd. located in Baoding.

ZX Auto Corporation seems to be a private international marketing and distribution company that owns the rights to represent the manufacturer.

Of course no foreign company can hold more than 50% of a Chinese auto manufacturer. Currently Taiwan United Leaders Holdings Co owns 33.3% of the company. And Tianye owned 33.3% until the recent sell off by Ningbo Huaxiang (current owner of Fuqi). Tianye then may have acquired the divested stake but I am not sure. Maybe someone can shed more light on the subject.
 
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