Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
regant:o)we have EPA approval!!!
06/10/04:
The Air Resources Board (ARB) announces a Memorandum of Agreement (MOA) with the Environmental Protection Agency's (EPA's) Voluntary Diesel Retrofit Program for the Coordination of Diesel Retrofit Verification. This MOA establishes reciprocity in verifications of hardware or device-based retrofits. It further establishes ARB's and EPA's commitment to cooperate on the evaluation of other retrofit technologies, including fuel-based strategies. The agreement commits ARB and EPA to work toward accepting particulate matter (PM) and oxides of nitrogen (NOx) verification levels assigned by the other's verification programs. Additionally, as retrofit manufacturers initiate and conduct in-use testing, ARB and EPA agree to coordinate this testing so data generated may satisfy the requirements of each program. This MOA is intended to expedite the verification and introduction of innovative emission reduction technologies. Additionally, this MOA should reduce the effort needed for retrofit technology manufacturers to complete verification. In the near future ARB and EPA will provide further guidance on how this agreement will be implemented.
http://www.arb.ca.gov/diesel/verdev/verdev.htm
Thanks Pappajohn for the message you were correct in your asumption.
corky
Whats our:o)competition doing?
Corning Announces Expansion of Recently Opened Diesel Facility;
Builds Momentum for Diesel Market Growth
In anticipation of a global diesel substrate and filter market that is expected to grow to approximately $1 billion in 2008, Corning is building momentum in this significant new clean-air market, Peter F. Volanakis, president of Corning Technologies, will tell investors today. Volanakis, along with other Corning executives, will address an audience of more than 300 financial analysts and investors at the company's annual investors' meeting beginning at 9 a.m. on Friday, Feb. 4, at the Mandarin Oriental Hotel in New York.
http://www.corning.com/media_center/press_releases/2005/2005020402.aspx
I hope everyone understands the significance of this. If we (ESWW) can get 10% of this market, that would be around $100,000,000.00. Correct me if I am wrong.
If enough countries follow the lead of the U.S., Canada and Mexico?
corky
Here is:o)a good read showing the potential in this market sector.
http://www.dieselforum.org/inthenews/downloads/mecheng_0105.pdf
Thanks PappaJohn:o)I will read it all.
corky
The $200,000 New Jersey project involves the first large-scale demonstration of a particulate reactor: a diesel catalytic converter manufactured by Environmental Solutions Worldwide, Inc., and verified last fall by CARB and EPA for 50% or greater PM reductions. Public Service Enterprise Group, Inc., an electric power company based in Newark, is funding half of the project’s cost, and an anonymous source is providing the other half, according to DEP.
http://pubs.acs.org/subscribe/journals/esthag-a/39/i03/html/020105news4.html
Ford executives declined to discuss details of the agreement, saying only that the company would start trying to develop the E.P.A.'s approach for commercial use. The federal agency announced a similar agreement last year with International Truck and Engine for diesel engines in larger commercial trucks.
carnut:o)it will level off soon and wait for more news. Just my opinion.
corky
Are you still here John?
Ford to Use an E.P.A. Engine In Effort to Develop Diesel Cars
What do you guys think this is going to do to the more expensive SCR technology?
corky
http://www.dieselforum.org/inthenews/nytimes_013105.html
FY 2006 Budget:o)Protects Public Health and the Environment
This is going to help ESWW's progress. The question is: How many of these projects will wind up using our products?
corky
$15 million for the national Clean Diesel Initiative, which will be leveraged significantly by working with our
partners. EPA and a coalition of clean diesel interests will work together to expand the retrofitting of diesel
engines in new sectors.
http://www.governmentguide.com/officials_and_agencies/agencies/u.s./independent/govsite.adp?bread=*M...
It will:o)come carnut, it will come! Hi sam glad to see you here.
corky
Well:o)it looks like we are closing at a new 52 week high $0.70, good start for this week.
corky
Hello Scar :o)
"EPA/CARB recertification is a mandatory U.S. Government requirement for any company that adapts an existing engine design to a different application other than that which it was initially certified for. EPA/CARB certification is a benchmark validation of performance and is recognized worldwide."
A part of the sales cycle problem may be potential customers useing up existing stock piles, or completeing old suppilier contracts before they can begin ordering from ESW.
All you have to do is take a look at all the players in the engine manufacturing and catalytic substrate caning side of the marketplace and you may have some idea of how many balls they may have in the air!
IMHO we are in direct competition with Corning the dominant player in the substrate market.ESW's gain will be corning lost.
This is going to be interesting to watch as it heats up.
corky
Why no discussion on our CEO's news cast on ceocast.com!
Don't you like what you hear? I do!
Cunning/fleetguard mentioned
Corning mentioned as our competitor
Marketing strategy mentioned
More annocements to public, results of testing
Private placement gives company monies to advertise
CEO buying stock<?B>
http://www.ceocast.com/company.cfm?cid=289
Hello Scar :o)
In my opinion the share price increase does have legs. ESW's SP is looking for a new base and I think it is in the $0.30 range for the next two to three weeks, waiting for the end of year report and the Q1 2003 report. If you did not notice, our 52 week high of $0.41 was met and surpassed today. In my opinion this is the breakout point on the way to $4.00.
If we show a profit of any kind ( and I think we will ) it will move up into $0.50 range or higher and hold for the next two quarters. Looking for consistent revenue growth. So we are on the same page here.
The pipeline that ESW is creating to feed product to its customers has to fill up and become substainable. The company still has to prove itself. We have 11 engine models certified with ESW's products in their configuration. 11 engines models that can not be sold without ESW's product in their configuration.
I am not going on any gut feelings, I am looking at market conditions,EPA/Carb mandates and the poor financial condition of the auto industry. They are cutting cost at every level. ESW is entering the marketplace at a good time.
Sit back and watch as management works this market nitch over the next two to three years.
It normally takes three to five years for a good young company with a good product to establish itself in the marketplace. IMO
corky
http://www.detnews.com/2003/autosinsider/0303/05/d01-99203.htm
Cost cutting falls short, Ford says
Stick to the budget, managers told
By Mark Truby / The Detroit News
Tight budget
For the third time in the last year, Ford is reminding employees of expenditures that are off-limits as it battles to restore profits. Examples:
Discretionary training and travel.
New computer equipment and software.
Racing sponsorships.
Palm pilots, mobile phones, pagers.
Consulting contracts.
Building improvements.
DEARBORN -- Ford Motor Co. officials -- disappointed that cost cutting dictates aren't being consistently followed -- are cracking down harder on discretionary spending.
In a terse memo to executives Monday, Ford North American Chief Jim Padilla said the company is at risk of going over budget this year and demanded strict adherence to a spending freeze in effect since last year.
"Recently, it has come to our attention the freeze has not been consistently implemented," Padilla wrote in the memo, which was obtained by The Detroit News. "To be clear, there will be no exceptions to this policy."
Ford, which has lost $6.4 billion in the past two years, is struggling to carve out billions of dollars in operating costs without hindering new car and truck development.
Expenditures that are prohibited range from the relatively inexpensive -- magazine subscriptions, Franklin planners and refills, pagers and flowers for employee anniversaries -- to big-ticket expenses such as consulting contracts, racing and community event sponsorships and computer equipment and software upgrades, according to documents The News obtained.
For example, all salaried, hourly and supplemental hiring must be approved by a vice president-level executive. All discretionary training and travel is prohibited, along with recruiting dinners and company-sponsored employee events.
Although the freeze was first unveiled in February 2002, and reiterated in August, Ford has been frustrated that it isn't being adopted across the board.
"As you are aware there are risks to the 2003 budget, and continued improvements are required to achieve our 2003 commitments and accelerating our revitalization goals," Padilla wrote. "Achieving our goals will only be accomplished with a continued focus on costs in all we do."
Crosstown rival General Motors Corp. said it is accelerating its own cost-cutting program, spokesman Jerry Dubrowski said.
"We're looking to cut spending wherever we can, particularly discretionary spending such as travel and off-site meetings," Dubrowski said. "In light of all the economic uncertainty, we think it is the prudent thing to do."
DaimlerChrysler AG's Chrysler Group is cutting costs, too, but has not implemented a specific plan to freeze spending, spokesman Dave Barnes said.
With Ford under pressure to restore profits, Chairman and CEO Bill Ford Jr. has called on senior managers to intensify cost cutting. Ford's goal is to build pre-tax earnings back to $7 billion a year by mid-decade.
The automaker stripped away $2 billion in overhead costs last year and Bill Ford called for another $1 billion in cuts this year.
So far this year, the company's information technology budget has been slashed by 20 percent or $300 million and Ford's salaried employees and retirees will see their medical coverage costs rise starting in the summer.
You can reach Mark Truby at (313) 222-2082 or mtruby@detnews.com.
Why no discussion on this board... ESW share price increase?
In this article :o)
I am reading these three paragraphs caught my attention.
Finding fertile ground? We have done that.
Disruptive strategy? We are doing that.
And this one I really like!
Major Mistakes? We did not make them.
Our product will fit right in with out costly tooling changes.
Things are looking real good!
corky :o)
FINDING FERTILE GROUND. One of the most important rules of successful innovation is to develop technologies for new markets where industry stalwarts have no status quo to protect -- and no need to steal someone else's customer to succeed. In management-speak, this is called "taking root in disruption."
According to Christensen, a company with a new technology has only a 6% chance of success if it tries to make a similar but better product than an incumbent and sell it to the same customers. By contrast, he says, the chances of success for a "disruptive strategy" are 33%.
MAJOR MISTAKES. Equally important is the principle that new technologies should disrupt competitors, not customers. Too often, new technologies try to make customers change the way they do things. Instead, Christensen says, innovation should help customers do things they already do more easily, conveniently, and for less money.
http://www.businessweek.com/technology/content/jun2002/tc20020618_1175.htm
In China, It's Not Easy Being Green
Beijing wants the nation's new light vehicles to meet strict clean-air standards. Enforcement? That's another matter
Thirty business executives and government officials gathered recently at a posh Shanghai hotel. The topic: China's ambitious new rules aimed at reducing pollution from auto emissions. As of April 1, 2001, government officials informed reps from 3M, Johnson Matthey, ArvinMeritor, and others, that the Middle Kingdom was mandating catalytic converters on all new cars, trucks, and buses under 3.5 tons.
That wasn't all. Officials asked the foreign companies to help China create a new industry in environmental technology, a move aimed at adding sophisticated emission-control equipment to the country's list of export products. "The market has a lot of potential," says Cai Zhigang, a senior officer in Shanghai's pollution-control division.
All this was music to the ears of execs at Corning (Shanghai), the Corning unit that sponsored the spring seminar. The company is positioning itself to profit from China's push toward cleaner air. Last March, Corning opened a $77 million plant in Shanghai to produce cellular ceramic substrates, a key component of catalytic converters, which soak up auto-exhaust emissions.
PRICEY EXTRA. According to Holly Hulce, Corning's general manager of environmental technologies in China, 80% of the plant's output initially will be exported, primarily to Korea. "Even if the China market took five years to develop, we could still service the other Asia markets," she says. And right behind Corning are 10 Chinese companies "working aggressively" to meet tough requirements for making the components, according to Hulce.
The question now: Is China really serious about getting its auto pollution in check? As of April, all new light-duty vehicles sold in 47 Chinese cities are required to be equipped with catalytic converters. But China turns out some 3 million light-duty vehicles annually, and adding catalytic converters adds more than $500 to the cost of each car, says Fu Lixin, an environmental engineer at Tsinghua University. That's a considerable sum for Chinese consumers.
Small wonder manufacturers such as Beijing Futian Factory, which makes minivans, and Nanjing Light Truck Manufacturing, are resisting the new mandates. "Light-truck companies still don't have this technology, or don't want to do it quickly because it will really increase the price" of their vehicles, says Yale Zhang of Automotive Resources Asia. Fact is, regulations in China aren't always enforced. The original deadline for installing catalytic converters in new light vehicles was January 1, 2000. But regional authorities stalled, fearful the move might hurt local manufacturers. That, plus practical difficulties such as a dearth of unleaded gas -- which catalytic converters require to work properly -- prompted the government to extend the deadline.
PRESSING PROBLEM. Still, Li Pei, the State Environmental Protection Agency official implementing the program, has faith. "I think it will be a success because there is a lot of government support," she says. Cleaning up the air is a pressing problem, with some academic studies estimating that as many as 300,000 Chinese die annually from air pollution. In fast-growing cities like Beijing, Guangdong, and Shanghai, automobiles account for more then 50% of the air pollution, says Fu.
With the help of the World Bank, China has now commissioned the Economic Research Institute of Norway to come up with more definitive figures on the economic cost of air pollution. "The Ministry of Finance is quite gung-ho on the environment," says Robert Crooks, a senior environmental specialist at the World Bank, who adds this caveat: "But they need justification for spending the money" to clean up the air.
In theory, any carmaker failing to meet the new-vehicle requirements by Sept. 1 will be forced to recall all vehicles sold since Apr. 1 of this year and install pollution-control gear in them. But multiple government departments claim to control the program, and it's unclear that any of them have the will or wherewithal to enforce a recall. "There is a lack of systematic management and qualified professional implementers," Fu says.
Another complicating factor: Emissions won't be checked until motorists try to get or renew a license from the Public Security Bureau. Any vehicle that fails is supposed to be sent back to the manufacturer to be retrofitted with a new catalytic converter.
GAS PAINS. After toying with the idea of requiring that all 18.5 million light-duty vehicles already on its roads be retrofitted with catalytic converters, Beijing abandoned that notion as unworkable. Also, while emission laws are in place covering the nation's 130 million pollution-spewing motorbikes, there's little indication they're being enforced.
Also, the little unleaded gas that is available tends be of poor quality. General Motors even offers free catalytic-converter cleanings as part of the warranty on its cars in China because bad unleaded gas eventually disables the converters. Never mind that the law already demands all gas sold in the country be unleaded.
None of this deters Corning. It has enough room on its lot in Shanghai's remote Jinqiao Import & Export Zone to double the size of the existing ceramic substrate plant. The Chinese government is "stressing the environment," says Hulce, who adds that Beijing is still figuring out how to be green "without going bankrupt." The key will be making sure all the reluctant parties -- local officials, auto makers, consumers, and oil
By Alysha Webb in Shanghai
Edited by Thane Peterson
http://www.businessweek.com/bwdaily/dnflash/may2001/nf20010529_914.htm
Environmental Solutions Worldwide, Inc.: Pro Cat(TM) CNG/LPG Catalysts Certified by Mexico Government
TELFORD, PENNSYLVANIA, Feb 21, 2003 (CCNMatthews via COMTEX) -- Environmental Solutions Worldwide Inc. (ESW) (OTCBB:ESWW), announced that its Pro Cat(TM) CNG/LPG catalytic converters have received four (4) full certifications by the Federal and State Governments of Mexico.
White Cat Environmental Systems, ESW's exclusive distribution agent in Mexico working with Impco and Lovato authorized distributors, two Compressed Natural Gas (CNG) and Liquid Propane Gas (LPG) engine conversion companies, have certified ESW's Pro Cat(TM) converters for usage into the Mexico market. The Pro Cat(TM) catalytic converter utilizes the proprietary ESW catalyzed stainless steel substrate. ESW's substrates are designed to be a direct replacement to conventional ceramic substrates, the current industry standard.
The certifications are for Chevrolet/Caja V-8, 5.7 liter; Chevrolet/P-30 V-8, 5.7 liter; Dodge/Ram V-8, 5.9 liter; Ford/F-450 V-10 6.8 liter engines. These engine groups represent the largest cross section being converted to CNG/LPG. There is currently a major push in the Mexico market for CNG/LPG engine conversions to reduce the air pollution created by heavy duty gas/petrol trucks and buses.
Mr. John Donohoe, ESW's CEO, President and Chairman commented, "These new certifications continue to extend our reach into the Mexico market as well as draw attention to our catalyst products. As with our recently PIREC (Program of Integral Reduction of Emissions or Contaminants) certified gas/petrol catalytic converter substrates, the Pro Cat(TM) CNG/LPG catalytic converters were tested and successfully passed all the necessary emission reductions and durability requirements at a Mexican Federal Government emissions lab."
Mr. Donohoe further remarked, "These new certifications are inline with the company's goal to become a complete catalyst supplier for every sector of this market. We believe that working with OEM Company's such as Impco and Lovato will accelerate sales and distribution of our catalyst products within the emission controls market."
About Environmental Solutions Worldwide Inc.
With headquarters in Telford, Pennsylvania, Environmental Solutions Worldwide is a publicly traded research and development company engaged through its subsidiaries in the design, development, manufacture and sale of environmental technologies currently focused on the international automotive and transportation industries. ESW manufactures and markets a line of catalytic emission control products and catalytic conversion technologies for a multitude of applications.
For additional information about ESW, please visit the Company's Web site at: www.cleanerfuture.com.
About White Cat Environmental Systems, S.A. de C.V.
Juan Carlos Flores, General Director of White Cat Environmental Systems, has over 15 years of experience in the market of catalytic converters in the emissions reduction field. Mr. Carlos has collaborated and advised several companies with his knowledge and technical experience. Mr. Carlos has had an important part in the design and development of programs such as the PIREC. Presently White Cat, represented by Juan Carlos Flores is member of the technical committee of the Secretary of the Environment and Natural Resource of the Federal Government, charged with the responsibility of evaluating the Norma 045-ECOL-2002, for Diesel powered vehicles in circulation.
About Impco
Impco (Nasdaq: IMCO) is the world's leading source of advanced alternative fuel systems technology and components for internal combustion engines. IMPCO products enable these engines to function using environmentally friendly gaseous fuels such as propane, natural gas and biogas. Headquartered in Cerritos, California, the company has offices in Australia, Europe, India, Japan, Mexico and North America.
About Lovato
Established by Ottorino Lovato in 1958, Lovato is above all an example of a company which gained its place among the leading specialists and operators in the car gas sector with the high quality standards of its activities. Lovato has been a synonym for enterprise for over forty years, and has shown itself to be well ahead of the times in the development and application of economic-environmental ideas. Managed today by the second generation, Rosanna, Riccardo and Luigi, it continues to consolidate its technological heritage, the cornerstone and toolkit for its future development.
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased" "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.
Environmental Solutions Worldwide, Inc.
David Johnson
(905) 850-9970
djohnson@cleanerfuture.com
NEWS RELEASE TRANSMITTED BY CCNMatthews
Copyright (C) 2003, CCNMatthews. All rights reserved.
Interesting connection :o)
NISSAN AND DONGFENG TO ESTABLISH
THE MOST COMPREHENSIVE PARTNERSHIP IN COMMERCIAL AND
PASSENGER VEHICLE OPERATIONS IN CHINA
Nissan to take 50 percent equity stake in Dongfeng's core operations
Beijing, September 19 - Nissan Motor Co., Ltd. (Nissan) and DongFeng Motor Corporation (Dongfeng) will sign today a comprehensive strategic partnership in China. Each party will own a 50 percent equity stake in a new company which will incorporate Dongfeng's buses, trucks and commercial vehicles, in addition to a full range of Nissan passenger vehicles.
Through the venture, Dongfeng and Nissan will jointly establish the first Sino-foreign full-line truck, light commercial vehicle and passenger car manufacturer. The newly constituted company will be named Dongfeng Motor Co., Ltd. ("Dongfeng Motor").
Together, Nissan and Dongfeng aim to create a globally competitive commercial vehicle and passenger car manufacturer with a target of 550,000 unit sales by 2006.
Dongfeng, one of China's top three automotive companies, was established in 1969 by the Chinese government. Annual sales in 2001 totaled 265,000 units. Of this total, more than 194,000 were commercial vehicles including buses and heavy-, medium- and light-duty trucks. Today, 50 percent of all vehicles sold in China are commercial vehicles excluding buses, in which Dongfeng holds a 17 percent market share.
Dongfeng's sales performance reached 190,900 units for the first half of 2002, up 44.6 percent from the same period in 2001. Operating profit was RMB2.69 billion, up 99.42 percent.
Working as partners, Nissan will offer the new "Dongfeng Motor" company its global brand power, technological capabilities, expanded product range, and its unique multi-functional management expertise gained through its own revival process. It will directly invest RMB8.55 billion (USD 1.03 billion; JPY120.4 billion)* in the new company in order to acquire a 50 percent equity stake. In addition, Nissan will dedicate between JPY 20-30 billion until 2006 in capital expenditure for specific Chinese product development.
Dongfeng will bring to the new "Dongfeng Motor" its national brand recognition, a significant track record in domestic commercial vehicle sales, broad and established manufacturing facilities, dedicated human resources, and an extended distribution network in the growing Chinese automotive market.
"We are extremely pleased to have Nissan become Dongfeng's long-term comprehensive partner," said Miao Wei, Chief Executive Officer of Dongfeng. "Through the successful production over the past two years of Nissan Bluebird sedans by Fengshen, our group company, we have carefully nurtured our relationship."
"We are now eager to enter a deeper, more comprehensive agreement. We believe the partnership with Nissan will be vital for the future of Dongfeng Motor as a truly competitive, full-line automotive manufacturer," he said.
"China is Nissan's new frontier. We are committed to developing Nissan's presence on the Chinese market through our association with Dongfeng," said Nissan President & CEO Carlos Ghosn.
"This unique and comprehensive partnership between a leading Japanese company and one of China's premiere state enterprises will bring real benefits to Chinese consumers," he said. "Guided by global benchmarks, we will build on and expand Dongfeng Motor's already profitable commercial and passenger vehicle businesses by promoting the adoption of best management practices and by providing a strong performance orientation for the benefit of all stakeholders."
Dongfeng's automotive business is primarily based on the production and sale of commercial vehicles, which have made 'Dongfeng' a strong brand name in China. Nissan's expertise will help the new company add to its operations a full lineup of light commercial vehicles and passenger cars, providing further impetus to the company's profitability and growth over the medium and long term.
Nissan, established in 1933, first arrived in China in 1972 with the sale of the Cedric sedan. Today the company offers the Cefiro, Sunny and Bluebird passenger cars, the "Pickup" truck, and the X-Trail SUV. Aeolus Automobile Co, Ltd. ("Fengshen"), Dongfeng's subsidiary in which Taiwan's Yulon Motor Co., Ltd. also holds a stake, produces the Nissan Bluebird locally. Zhengzhou Nissan Automobile Co., Ltd. produces the "Pickup" truck in a separate venture. In 2001 Nissan sold 34,000 vehicles in China.
The partnership between Nissan and Dongfeng is the first of such a scale involving a Chinese automotive company and a foreign partner.
To support the profitable growth of the new company, the agreement calls for Nissan to provide management expertise in numerous fields: product planning, purchasing, plant productivity, logistics, quality control, brand management, marketing and sales, distribution network, and financing. Moreover, the partnership will create a new passenger vehicle R&D center in addition to reinforcing Dongfeng's existing R&D resources in commercial vehicles.
Of the 550,000 annual unit sales targeted by the new "Dongfeng Motor" in 2006, 330,000 will be commercial vehicles. Trucks and buses will be produced in existing Dongfeng Motor plants such in Shiyan and Xiangfan and will carry the Dongfeng badge.
Another 220,000 will be passenger vehicles ranging from economy to family and luxury in segments covering subcompacts to mid-size sedans and MPVs. All passenger cars manufactured by the new company will be Nissan-branded and produced at existing Dongfeng Motor production facilities in Xiangfan and Guangzhou Huadu.
Current plans call for introduction of 6 additional locally-produced Nissan passenger models beyond the popular Bluebird by 2006. In 2003, production of the Sunny will start at the new "Dongfeng Motor."
The partners envision "Dongfeng Motor" to become a globally competitive automaker with a production capacity of 900,000 units within ten years' time, playing a leading role in the globalization of the Chinese automotive industry and in the development of the Chinese market.
This year marks the 30th anniversary of Nissan's presence in China. This agreement will support Nissan's growing presence in China and will contribute to the NISSAN 180 commitment to sell 1 million additional cars globally by the end of FY2004.
The partnership between Dongfeng and Nissan represents a major step forward for Dongfeng to actively participate in global competition and face the challenges anticipated with China's entry in WTO. It will be integral in the growth of Dongfeng to new heights in strength and scale and in the enhancement of its global competitiveness and contribution to China's auto industry.
Dongfeng and Nissan will jointly work next on a deployment plan toward establishment of the company as procedures for filing with the government immediately. The partnership between Dongfeng and Nissan is strongly supported by the central Chinese government, relevant government ministries, the Hubei Provincial Government, the Guangdong Provincial Government, and the relevant local government authorities.
Reference*: Currencies have been translated into yen and dollar based on the exchange rates as of September 13, 2002 for the convenience of the reader. (1 RMB per 14.08 JPY; 1RMB per USD 0.12; 1USD per 121.75 yen)
end
http://www.nissan-global.com/EN/STORY/0,1299,SI9-CH177-LO3-TI663-CI520-IFY-MC109,00.html