Raba plans joint venture in China


BUDAPEST, Sept 23 (Reuters) - Hungarian commercial vehicle maker Raba said on Tuesday it signed a memorandum of understanding with Chinese automotive firms to set up a joint venture in China. Raba said it had identified potential venture partners in bus and truck axle production, but did not name the Chinese firms. Nor did it give any financial details or timetable for signing up to any joint venture. "A joint venture with Chinese partners means a significant competitive advantage as it ...

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