August 12 -- Weihai Guangtai Airport Equipment (002111.SZ) filed it will invest 550 million yuan to form a subsidiary called Weihai Guangtai Wanguo Special Vehicles in Shandong province, reports yicai.com. First-phase investment is 200 million yuan.

The subsidiary will specialize on high-value-added products including special vehicle and special chassis. Its annual capacity will be 5,000 to 10,000 special vehicles and related chassis.

It will also introduce in some advanced technologies from the US through an agent in Beijing. Its new subsidiary will start full capacity production in 2014.

Weihai Guangtai manufactures airport equipment and fire-fighting vehicles.

Source:CapitalVue