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.
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