Wednesday, May 14, 2008

Carlyle Group ties up with the government of Shandong province

The Carlyle Group, one of the world's largest private equity firms, signed an agreement with the government of Shandong province in eastern China to support local enterprises with foreign investment.

The Chicago-based company signed the agreement with Shandong's Department of Foreign Trade & Economic Cooperation, an agency which oversees the foreign investment process in the province.

The firm currently owns a property investment there as well as a joint venture run by one of its subsidiaries, Veyance Technologies, manufacturer of Goodyear-branded conveyor belts.

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