Monday, March 20, 2006

Proton To Announce Alliance With China.

Proton, Malaysia's national carmaker, is expected to announce an alliance with a foreign firm this week, in the first of a series of deals with prospective partners following a strategic review.

The first deal is expected to be with a Chinese carmaker.

Azlan Hashim, Proton chairman, said that during the past few months the company had been talking to several potential Chinese partners about collaboration.

'We have been rethinking our future and have concluded that we need several strategic partners,' he said.

'At one point we had thought of forming an alliance with just one. But now we are looking for partners in multiple areas, whether for new products, components, market access or other activities,' he said.

Proton's move follows the collapse of negotiations in January with Volkswagen as a potential single strategic partner.[AFX]

No comments: