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Great Wall Motor 'considering merger and acquisitions'

The firm is looking to branch out into the European market.

16 September 2011

Chinese automaker Great Wall Motor could be considering using merger and acquisition advisors in the future.

This is because its chairman Wei Jianjun is reported by Reuters as saying that if the right opportunity came along to buy a foreign brand, then it would do so.

He continued by saying that the company "emphasises more on organic growth", but that if there is "a good target company, we will take a look at it".

This comes after the firm revealed it has signed a cooperation agreement that will see it enter the Ukrainian market.

The deal with Bogdan-Industry is part of a wider strategy to get a foothold in Europe.

Xing Wenlin, vice-president of Great Wall Motors, noted the company is confident it will be able to "strengthen and expand" as a result of the development.

He added his organisation is currently evaluating the current trends for market development in Ukraine.

Posted by Ron Maverick

Source: Reuters, September 16th

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