Hungary Raba in deal to set up Chinese JV

Newswire

BUDAPEST, Dec 18 (Reuters) - Hungarian commercial vehicle maker Raba Rt said on Thursday that it has signed a memorandum of understanding in China aimed at setting up a joint venture to develop, produce and assemble bus axles. Raba's partners are Liaoning Shuguang Automotive Group Co. Ltd and Dandong Huanghai Automotive Co. Ltd. The document was signed on December 16, Raba said in a statement. The company said the Chinese firms will have a majority stake in the joint venture. "China ...

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