China’s Tri-Ring to buy Polish bearings maker, report
Chinese automotive manufacturer Tri-Ring Group Corp will buy Polish bearings maker FLT Krasnik for some PLN 300 million ($93 million) in the largest investment yet by a Chinese firm in Poland, Reuters reported citing a person close to the deal. “The investment is a result of the political discussions during (Premier) Wen Jiabao’s visit last year,” the source said on Wednesday. Krasnik, which is 89% owned by state industry development agency ARP, employs 2,000 workers and has annual sales of some PLN 200 million. Tri-Ring manufactures special purpose and military vehicles and automotive components in China.
ADVERTISEMENT
Gloster H1 Revenue Climbs 24%
V4 Agri Officials: WTO Case Over Grain Bans 'Unfortunate'
Lego Invests HUF 54 bln in Expansion in Hungary
Budapest Muni Council Clears Rác Baths Renovation
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
