Sailun issues shares to fund acquisition programme

ERJ staff report (DS)

Jilin, China -- A report on the CRIA website seems to indicate that Sailun Tire is raising capital to fund an acquistion programme of other tyre makers. The move may herald the start of a major consolidation programme among China's tyre makers.

The company is expected to buy Shandong Jinyu Industrial Co., Ltd. and the Shenyang peace radial tyres Manufacturing Co., Ltd.

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News story from CRIA (Chinese language)

Above story auto-translated (from Chinese language)