China's Ningbo Huaxiang eyes German acquisition

Newswire

SHANGHAI, Sept 29 (Reuters) - Ningbo Huaxiang Electronic Co. , a small but fast-growing Chinese automobile parts maker, said on Saturday it was in preliminary talks to buy a German auto parts maker for between 1 billion and 1.5 billion yuan ($133 million to $200 million). The Chinese company said the German firm, which it did not name, posted sales of about 250 million euros ($175 million) and profit of 25 million euros last year. Ningbo Huaxiang said it was not certain of reaching a ...

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