China's Weichai to buy stake in truck maker Foton

Newswire

SHANGHAI, July 1 (Reuters) - Major Chinese engine maker Weichai Power Co said on Tuesday it has agreed to take a stake in Beiqi Foton Motor Co under a deal to expand its business ties with the truck maker. Under a legally binding framework agreement, Weichai will become a strategic investor in Foton by participating in a share placement, it said a statement. It gave no details on the amount of shares it would buy. Weichai will also gradually increase its supply of engines and other ...

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