TradingMarkets.com, 9 Apr 2009
ZHENJIANG, Apr 09, 2009 (SinoCast Daily Business Beat via COMTEX) -- SGGKF | Quote | Chart | News | PowerRating -- Singapore Technologies Engineering Ltd. (ST Engineering), the largest engineering and special-utility vehicle marker in Singapore, decides to build up world's leading manufacturing base of small-sized machinery in Zhenjiang, Jiangsu Province in China.
The company inked a cooperation agreement with Zhenjiang Huatong Machinery Group on April 7, 2009. ST Engineering will spend USD 50 million acquiring the stake in Huacheng Huatong Road Machinery Co., Ltd. now held by China's YTO Group and increasing investment in it to get the absolute control.
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