Formosa Automobile Corp (
According to the report, Liu Shun (
Liu said that there hadn't been any formal discussions on the deal, which aims to develop the complex in the manufacturing of upstream autoparts such as engine components.
Kunshan has been attracting foreign capital, especially from Taiwan, in recent years with most of the funds flowing into the manufacturing sector.
Hung Tse-chung (
Formosa's first automobile -- the 2000 Formosa No. 1 sedan -- rolled into the market at the end of 2000.
Formosa contributed 45 percent of the parts to make the car while joint developer Daewoo of South Korea added in the rest.
Formosa Automobile, which aims to provide 70 percent of the automobile's parts, has some 400 workers at its plant in Tatu (大肚), near Taichung, which can produce 1,750 cars per month and is targeted to make 20,000 cars annually.
In related news, it was reported that Formosa Group chairman Wang Yung-ching (
Wang may start building branches of Taiwan's Chang Gung Memorial Hospital (
However, while Wang wants to be the sole investor in the hospitals, China's Ministry of Health wants to take a 30 percent stake in the venture, the report said.
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