DFAC to become No.1 seller of light vehicles after reorganization

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DFAC to become No.1 seller of light vehicles after reorganization

Source: Global Times
[15:31 November 08 2010]
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Shandong KAMA Automobile Manufacturing Co., Ltd. announced in a statement last week that a joint venture (JV) that will have as investors KAMA Automobile Manufacturing Co., Ltd.; Dongfeng Automobile Co., Ltd. (DFAC) and the management team of the new company will be formed in Shouguang, Shandong Province.

An officer with the DFAC disclosed that the company is expected to be China's number one seller of light vehicles after the reorganization.

KAMA Company will be the controlling shareholder in the JV, holding 51 percent of the shares; DFAC and the management team of the new company will hold 40 percent and 9 percent respectively.