Friday, January 04, 2008
NAC and SAIC officially merge
Nanging Automobile Corporation (NAC) has been successfully merged into SAIC, bringing Rover under one ownership.
SAIC owns the design rights to the Rover 25 and 75 models and NAC owns Longbridge and MG. However the Rover name still belongs to Ford.
The two Chinese state owned companies announced their intentions to join forces five months ago. Hu Maoyuan, chairman of SAIC and Wang Haoliang, chairman of Yuejin signed a cooperation agreement in Beijing.
DATED: 04.01.08
FEED: AM
SAIC owns the design rights to the Rover 25 and 75 models and NAC owns Longbridge and MG. However the Rover name still belongs to Ford.
The two Chinese state owned companies announced their intentions to join forces five months ago. Hu Maoyuan, chairman of SAIC and Wang Haoliang, chairman of Yuejin signed a cooperation agreement in Beijing.
DATED: 04.01.08
FEED: AM
