Duoli Automotive Technology to Set Up Joint Venture in Spain
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(MT Newswires) -- Chuzhou Duoli Automotive Technology (SHE:001311), through unit Duoli Hong Kong Holdings, plans to establish a joint venture with Ederlan Subsidiaries in Spain for 504.6 million yuan, according to a Shenzhen bourse disclosure on Thursday. The Chinese automobile parts manufacturer's shares closed 3% lower on Friday. The joint venture, Lieder Automotive, will serve as a production base for automotive parts in Europe. The company will own 70%, while Ederlan will own 30% of the venture.
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