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China National heavy duty truck and Germany concluded a long-term strategic cooperation relationship of the MAN

Sinotruk (Hong Kong) Limited ("China National heavy duty truck") published on 15th bulletin, announced that with the world's third-largest heavy truck manufacturer Germany MAN SE Group (hereinafter referred to as "MAN (Mann)") signed a long-term strategic cooperation agreement.
Under the agreement, MAN (Mann) will be held in the Hong Kong Stock Exchange-listed China National heavy duty truck 25% share capital plus one share stake in strategic shareholder of China National heavy duty truck. MAN (man) to China National heavy duty truck a total equity investment of 560 million euros, through the purchase of China National heavy duty truck's common stock and capital increase realized. The transaction price compared with China National heavy duty truck suspension earlier 60-day average trading price premium of about 21%.
As part of the cooperation, MAN (Mann) will empower the truck and engine technology licensing, laying the Foundation for the production of new truck series, and China National heavy duty truck provided continuous technical and management support for production and localization help. The new truck series heavy duty truck in China domestic factories for production, quality and environmentally friendly than products currently on the market.
China National heavy duty truck's parent company, China National heavy duty truck group company limited ("heavy"). In 1960, produced China's first heavy duty truck heavy truck in 1984, bought MAN (Mann) a subsidiary of Steyr (Steyr) truck technology. At present, China National heavy duty truck group is a leading manufacturer of heavy trucks, the market share of about 20%, 2008 truck sales topped 100,000 vehicles.
MAN (man) has a long history of exchanges and cooperation with China, MAN (Mann) various subsidiaries more actively to strengthen its position in the Chinese market in recent years. In 2008, the MAN (Mann) in China totaled 617 million euros, representing a growth of 22%.
Insiders pointed out that MAN (Mann) investment in sinotruk, specifically for the joint development of new truck series laid the Foundation for emerging markets. Through equity investment in sinotruk, MAN (Mann) in China, the world's largest and fastest growing truck market place.
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