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Fuyao Glass Industry Group Co Ltd to Set up Joint Venture

Thursday, 18 Apr 2013 08:00pm EDT 

Fuyao Glass Industry Group Co Ltd announced that it will invest RMB 240 million to set up a joint venture with the Company's indirectly wholly owned subsidiary, a Fujian-based automobile glass industry company, with each to hold an 80% and a 20% stake. The joint venture will be with a registered capital of RMB 300 million and be engaged in the research, development, production and sale of molds.