(ĐN)- Singapore’s leading auto distributor Jardine Cycle & Carriage group (JC&C) became Truong Hai Auto Company’s strategic partner under an agreement signed in HCM City on August 21.
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Under the agreement, JC&C will hold a 20 percent of stake in Truong Hai Auto (Thaco) with total investment of $77 million, becoming the company’s largest shareholder.
As a strategic partner, JC&C will help Thaco distribute cars in
The two partners will also exchange staff, build up a joint distribution system with focus on tourism coaches in Vietnamese market and later in the AFTA and boost investment in industrial zones and financial services.
Truong Hai Auto Company was established in 1997 with an innitial capital of VND400 million and became a joint stock company in 2007 with chartered capital of VND680 billion. In 2008, Truong Hai raised its capital to VND962.8 billion to attract more strategic partners to implement the expansion plan in the near future.
Last year, Thaco assembled and sold 12,140 cars of different kinds and the figure was 11,207 in the first half of this year.
Thaco’s partner, JC&C was established in 1899 and is now holding 50.1 percent of stake in Astra, one of the leading auto groups in
Reported by K.L
