On the evening of July 28, 2014, Dongfeng Technology announced that Dongfeng Electronic Technology Co., Ltd. plans to establish a joint venture with Knorr-Bremse Systems Asia-Pacific Co., Ltd. to establish East Corkor Brake Technology Co., Ltd. and East Corkor commercial vehicle. Brake System (Shiyan) Co., Ltd. and other two companies.
Among them, East Corkenor Commercial Vehicle Brake Technology Co., Ltd., Knorr Asia Pacific intends to invest RMB 35.7 million in 51% of the equity of the joint venture company, and Dongfeng Technology plans to invest RMB 34300000 in 49% of the equity of the joint venture company.
East Corknor Commercial Vehicle Brake System (Shiyan) Co., Ltd., Knorr-Asia Pacific plans to invest RMB 4.90 million in 49% of the joint venture; Dongfeng Technology intends to invest RMB 5100,000 in 51% of the joint venture.
It is understood that the establishment of the two joint venture companies aims to strengthen the development of Dongfeng's commercial vehicle brake system business, and to carry out long-term strategic cooperation with international brands; to use the advantages of the joint ventures in terms of manpower and technology to develop commercial vehicles. Brake system business to increase profitability.
With regard to the impact of this foreign investment, Dongfeng Technology stated that through cooperation with the international community, it will combine strengths and complement each other to complete the construction of a full-chain platform for the commercial vehicle brake system; the use of foreign-funded enterprises will introduce advanced technologies to improve product quality. Improve the company's competitiveness to meet the needs of the development of OEM internationalization.
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