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China Daily | Updated: 2012-03-19 08:08
Lingyun buys German supplier
Auto component manufacturer Hebei Lingyun Industrial Group Co Ltd recently agreed to buy a majority stake in Kiekert AG of Germany, the world's leading supplier of latch systems for cars. The sale price was not disclosed.
Founded more than 150 years ago, the German company with about 4,000 employees worldwide generated more than 500 million euros ($650 million) in revenues last year. Its clients include BMW and Volkswagen.
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