Consolidation in the Chinese container manufacturing industry is continuing apace, with the latest move seeing Singamas Container Holdings signing an agreement to take over Hyundai Mobis' wholly owned Shanghai Hyundai dry freight plant.
Subject to regulatory approval, which is expected by the end of this month, 65 percent of the shares in Shanghai Hyundai will be transferred to Singamas subsidiary Shanghai Pacific International Container Co (SPIC) and the remaining 35 percent to a party related to Singamas....
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Approx 240 words from WorldCargo News, August 2002,
page 1.
