Weichai Power, Caterpillar to Form Transmission Venture in Xi’an
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Weichai Power Co. said unit Shaanxi Fast Gear Co. will invest 255 million yuan ($39 million) for a 51 percent stake in a transmission venture with Caterpillar China Investment Co.
Caterpillar will invest 225 million yuan for a 45 percent stake in Xi’an FC Intelligence Transmission Co. and Shaanxi Fast Gear Automotive Transmission Co. will invest 20 million yuan for 4 percent, according to a Hong Kong stock exchange filing today. Weichai owns 51 percent of Shaanxi Fast Gear.
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