Chinese engine maker Weichai Power has again denied a media report last week that said it had talked with General Motors about buying a components plant in France.
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The company’s board had issued a denial last week following a French media report.
Weichai said on Monday in a Chinese stock exchange statement it had, however, had contacts with the GM unit in Strasbourg last December on possible cooperation and was buying the assets of a French engine maker, Reuters reported.
The Chinese firm said it had agreed to pay EUR2.99m ($3.79m) for assets of Moteurs Baudouin with a book value of EIR13.82m, and that the acquisition needed government approval.
“The purchase will help the company to expand in overseas markets,” Weichai was quoted as saying.
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By GlobalData
