China North vehicle buys 100% stake in Shenyang locomotive 1 billion yuan

NetEase Finance December 7 News of China North vehicle evening announcement, the company intends to acquire the holding shareholder North Vehicle Group held in China North Vehicle group Shenyang Locomotive and rolling Stock limited liability company 100% Equity, the acquisition price of 1.003 billion yuan.　　Shen Car Company was founded in November 25, 1979, is China's new railway freight cars and maintenance of railway wagons, diesel locomotives, repair, build both the locomotive and vehicle industry backbone Enterprises, subordinate to the North China locomotive and rolling stock industry group.　　As at September 30, 2010, Shen Che Company's total assets of about 3.048 billion yuan, attributable to the parent company's owner's equity of about 669 million yuan, 2009 1-September total profit of about 73.01 million yuan, attributable to the parent company's net profit of about 52.32 million yuan. This equity acquisition fulfilled the China North Vehicle listing commitments, for China North vehicle follow-up to the capital market refinancing lay the foundation.　　Effectively avoid the North Vehicle group and China North vehicles in the trucking business competition, and reduce the associated transactions.　　The company said that the acquisition to enhance the Chinese north vehicle freight car business market competitiveness and improve the market share of freight cars, so as to improve the overall operating performance and profitability of China's north vehicle, in line with the company's development strategy. China's north vehicle closed at 6.36 Yuan today, down 0.47%.