China's Asimco looks at HK listing in late 2009

BEIJING, April 19 (Reuters) - Asimco Technologies Ltd., a Chinese diesel engine parts maker, is looking seriously at listing shares in the second half of next year, its chairman said on Friday.

"We will take a hard look at this in the second half of '09," Jack Perkowski told Reuters.

"It will most likely be in Hong Kong," he said, but did not elaborate.

Asimco supplies diesel engines, transmissions and fuel and brake systems for commercial vehicles to global firms like Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) as well as local manufacturers such as Dalian Diesel.

Asimco directly exports about 15 percent of its production, while over half is targeted at the commercial vehicle market.

Perkowski, a 20-year veteran of investment banking, said market conditions would play a big role in determining any eventual offering.

Asimco has been expanding rapidly as companies like Ford and General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz), which posted a record net loss of almost $39 billion in 2007, have closed plants and made massive layoffs in their expensive workforce. ($=7.00 yuan) (Reporting by Kirby Chien; Editing by Ben Tan)