Pacific Century Motors Explained

Pacific Century Motors
Foundation:November 2010
Founder:E-town
Tempo Group
Key People:Zhao Guangyi, Chairman[1]
Parent:AVIC Automobile Industry Holding
Subsid:Nexteer Automotive

Pacific Century Motors is a Chinese company formed to buy and hold Nexteer Automotive.

Originally, Pacific Century was a subsidiary of E-town, the Beijing municipal government's investment company, and Tempo Group, a Chinese car component manufacturer.[2] Nexteer Automotive was acquired by Pacific Century Motors on November 30, 2010.[3] Pacific Century also announce that they would be making additional acquisition in the next year or so.[1] In March 2011, AVIC Automobile Industry Holding Co., a Chinese state-owned parts manufacturer, purchased a 51 percent interest in Pacific Century Motors.[4]

Notes and References

  1. News: Clothier. Mark. Pacific Century Motors Says It Plans More U.S. Takeovers After Next Year. 21 April 2011. Bloomberg.com. Nov 29, 2010.
  2. News: Lynch-Morin. Kathryn. New chapter begins today for Saginaw's Nexteer after purchase by Chinese auto-parts maker announced. 15 April 2011. The Saginaw News. July 8, 2010.
  3. Web site: Nexteer Automotive Inc.:Private Company Information. https://web.archive.org/web/20121012000537/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=59503383. dead. October 12, 2012. Business Week.com. Bloomberg. 15 April 2011.
  4. News: Lynch-Morin. Kathryn. Nexteer's parent acquired: Company says move positions it for growth. 15 April 2011. The Saginaw News. April 12, 2011.