Youngman Automobile Buys Stake in German VISEON Bus GmbH
10 August 2012
www.chinabuses.org: China Youngman Automobile Group Co. was founded in 2001. After the completion of the constructions of factories, the company developed by bringing in the technology of the two joint ventures: German companies Neoplan (at this time known as Gottlob Auwärter GmbH & Co. KG) and MAN for the manufacture of buses and trucks. Youngman has worked with Neoplan Bus GmbH since the late 1990s. The Chinese company produces buses and coaches under the Neoplan brand. Recently, Youngman proposal to acquire a 74.9 percent stake in German bus manufacturer VISEON Bus GmbH has been officially approved by the Provincial Development and Reform Commission.
The group photo of Pang Qingnian,Chairman of Youngman with Batha, chief engineer of NEOPLAN in 1999.
After failing to purchase Sweden's Saab Automobile AB last year, at the end of July 2012, Youngman successfully acquire a 75% stake in Germany's Viseon Bus GmbH for around €10 million, or roughly $12 million.
The deal has been approved by the Zhejiang Provincial Development and Reform Commission, the economic planner in coastal Zhejiang province where Youngman is headquartered, the government agency said in a statement dated July 24 on its website.
Viseon Bus, based in Pilsting, Bavaria, was established in 2008 and has been manufacturing commercial vehicles under the Neoplan brand. Youngman has cooperated with Neoplan Bus GmbH since the late 1990s, and the Chinese car maker produces buses and coaches under the Neoplan brand, according to Youngman’s website.
Source : www.chinabuses.org
Editor : Lily
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