PRODUCTION * China - China's FAW says to set up bus venture with Daewoo
Shanghai,China -Reuters -Dec 27, 2006: -- First Automotive Works, a top Chinese vehicle maker, said on Wednesday it will set up a $20 million joint venture with South Korea-based Daewoo Bus Corp. to make buses in the world's second largest auto market... FAW and Daewoo Bus will invest $10 million each in the 50-50 venture, which will have an annual capacity to make 1,200 Daewoo-branded city buses, a FAW executive told...
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