Great Wall Motor to Acquire GM's Thai Manufacturing Facilities

Date : 02/17/2020 @ 4:03AM
Source : Dow Jones News
Stock : Great Wall Motor Company Ltd (PK) (GWLLY)
Quote : 5.78  -0.215 (-3.59%) @ 9:20PM

Great Wall Motor to Acquire GM's Thai Manufacturing Facilities

Great Wall Motor (PK) (USOTC:GWLLY)
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   By Martin Mou 
 

China's Great Wall Motor said Monday that it has agreed to acquire manufacturing facilities in Thailand from General Motors, the latest move in the Chinese auto maker's push to expand globally.

The two companies expect to complete the deal and hand over the facilities, including the Rayong vehicle-assembly plant, by the end of this year, Great Wall Motor said.

Great Wall Motor, which didn't disclose the financial details of the deal, said the Thai car plant could help the Chinese auto maker expand in Southeast Asia and Australia.

The acquisition follows another agreement between Great Wall Motor and GM struck earlier this year. The Chinese car maker agreed to buy GM's Talegaon Plant in India.

 

Write to Martin Mou at martin.mou@wsj.com

 

(END) Dow Jones Newswires

February 16, 2020 22:48 ET (03:48 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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