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( "Changfeng") (TSX VENTURE: CFY), a China based natural gas distributor, is pleased to announce that it has successfully negotiated a long term bank loan with The Bank of China in the amount of RMB 100 million ($15.4 million).
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( "Changfeng") (TSX VENTURE: CFY), a China based natural gas distributor, is pleased to announce that it has successfully negotiated a long term bank loan with The Bank of China in the amount of RMB 100 million ($15.4 million).
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TORONTO, ONTARIO -- 03/31/10 -- Changfeng Energy Inc. ( "Changfeng") (TSX VENTURE: CFY), a China based natural gas distributor, today reported revenue of $17,876,478 for the year ended December 31, 2009 compared to $13,014,236 for the same period in 2008 representing a 37% increase.
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The people said Mitsubishi's goal in the talks is to reach a 50-50 partnership in GAC Changfeng Motor, though it wasn't immediately clear Friday whether that objective is being met.
Mitsubishi Talks on China Venture Reach Final Stage Norihiko Shirouzu 2010
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In addition to Guangzhou and Mitsubishi, the venture is 21.98%-owned by Changfeng Group, with the rest owned by various other shareholders.
Mitsubishi Talks on China Venture Reach Final Stage Norihiko Shirouzu 2010
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The venture — the sport-utility-vehicle maker GAC Changfeng Motor Co., which is based in Changsha, the capital of southern Hunan province — is 29%-owned by Guangzhou Auto and 14.59% by Mitsubishi.
Mitsubishi Talks on China Venture Reach Final Stage Norihiko Shirouzu 2010
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GAC Changfeng Motor, a company listed on the Shanghai stock exchange, is controlled by Guangzhou Auto and produces Mitsubishi-designed cars, among other vehicles.
Mitsubishi Talks on China Venture Reach Final Stage Norihiko Shirouzu 2010
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Jun Hiraoka, head of Mitsubishi's representative office in Beijing, said he has no knowledge of an offer by Guangzhou Auto to let the company increase its stake in Changfeng.
Mitsubishi Unlikely to Raise China-Venture Stake Norihiko Shirouzu 2010
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Jun Hiraoka, head of Mitsubishi's representative office in Beijing, said he has no knowledge of an offer by Guangzhou Auto to let the company increase its stake in Changfeng.
Mitsubishi Unlikely to Raise China-Venture Stake Norihiko Shirouzu 2010
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Jun Hiraoka, head of Mitsubishi's representative office in Beijing, said he has no knowledge of an offer by Guangzhou Auto to let the company increase its stake in Changfeng.
Mitsubishi Unlikely to Raise China-Venture Stake Norihiko Shirouzu 2010
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