Foton SPV program is inaugurated
(chinatrucks.com, Oct 8, 2010) “Foton Shifang SPV Company limited” established by Foton and Tengzhong heavy duty is holding the inauguration ceremony in “Beijing Shifang Industry Park” of Sichuan. In order to support further establishment, Beijing government has donated hospital vehicle established by Foton, Aumark top end light truck, and MP-X commercial vehicle to Shifang city. The total value is amounts to 3 million Euros.
As for this cooperation, Foton has provided funds, technology and auto chassis, and Tengzhong heavy duty shall provide plants, equipment and funds, and they both will set up special purpose vehicle plant in Shifang of a JV company. It will realize the capacity with 5000 dumpers, tractors and sanitation vehicles production base. It is predicted that it will realize annual revenue with 150 million Euros.
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