23 JULY 2014<a href=' http://in.reuters.com/article/2014/07/22/rheinmetall-china-idINL6N0PX1M520140722 ' target='_blank'> Reuters </a>
Rheinmetall forms new JV with China's Hasco
Edited by : AL CIRCLE
1 min read
Rheinmetall will shift a unit making aluminium engine blocks to a joint venture with China's Hasco to help finance growth at its automotive business, the German defence group said on Tuesday.
Duesseldorf-based Rheinmetall said KS Aluminium-Technologie GmbH and Hasco, which is majority-owned by automotive group SAIC , will be equal partners in the joint venture, which will combine existing production capacities in Germany and China.
Rheinmetall and Hasco have three joint ventures making, among other products, pistons and cylinder heads.
Plans for the joint venture were reported earlier by Germany's business daily Handelsblatt.
Duesseldorf-based Rheinmetall said KS Aluminium-Technologie GmbH and Hasco, which is majority-owned by automotive group SAIC , will be equal partners in the joint venture, which will combine existing production capacities in Germany and China.
Rheinmetall and Hasco have three joint ventures making, among other products, pistons and cylinder heads.
Plans for the joint venture were reported earlier by Germany's business daily Handelsblatt.
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