BRUSSELS,
Belgium – WABCO has
signed a letter of intent with GuangDong Fuwa Engineering Manufacturing Co.,
Ltd., (Fuwa) to form a joint venture for production of air disc brakes in
China.
WABCO
will have a 70 percent holding and Fuwa will have a 30 percent holding in the
joint venture, which will be located at Fuwa's newly established manufacturing
facility in Taishan, Guangdong, China.
The
proposed joint venture will encompass manufacturing, assembly and testing of
air disc brakes for commercial trailers.
The joint
venture agreement is expected to be finalized by year-end.
