Tuesday, March 10, 2009

Plan to sell unit

CHINA Northern Locomotive and Rolling Stock Industry (Group) Corp, the nation's second-biggest maker of rail and rapid transit vehicles, plans to sell its leasing unit to raise at least 302 million yuan (US$44 million).

China Northern will sell the unit to a single investor, said a statement posted on the Website of China Beijing Equity Exchange. Major state-owned firms have until March 25 to bid for the subsidiary.

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