BAW to acquire ST Baolong

Source: Global Times
[16:22 August 17 2010]
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According to media reports Tuesday, Beijing Automobile Works Co. Ltd. (BAW) is expected to acquire ST Baolong on Wednesday and get listed indirectly.

An insider from BAW refused to reveal more details, only saying that "all questions will be cleared in a few days." However, ST Baolong has not been delisted yet.

In addition, BAW and ST Baolong have been in contact for a long time, and the acquisition indicates that the former is close to go public.

ST Baolong's holder, the Guangzhou Oriental Baolong Automotive Industry Co., Ltd., is a firm mainly focusing on the production of bulletproof cars, sanitation vehicles, logistics cars and so on. The company now has more than 500 staff members and several assembly lines as well as auto-test equipments.