Wed, Dec 15, 2004 - Page 11 News List

Business Briefs

AGENCIES

Yulon, GM forge alliance

Yulon Motor Co (裕隆) and General Motors Corp of the US are expected to sign a memorandum today to forge cooperative relations between the two companies, according to a statement released yesterday by Yulon Motor.

The statement said that the expected ties are one of Yulon Motor's efforts to form contacts with various brand name companies for original equipment manufacture to enhance its output capability. Under the new relationship, Yulon Motor will manufacture many models of vehicles with brand names belonging to GM, including Buick.

CPC to set up shop in Yunlin

A plan by the Chinese Petroleum Corp (CPC, 中油) to build a petrochemical industrial park in central Yunlin County has gained a warm response from the domestic industry, prompting a CPC executive to call for government assistance for the investment project.

CPC president Chen Bao-lang (陳寶郎) issued the call earlier this week after having repeatedly explained the investment project to mid and downstream businesses in the industry. According to Chen, the major investment plan, valued at more than NT$300 billion (US$9.1 billion), will be one of the biggest investment projects that CPC has launched in recent years.

As an upstream supplier of crude materials to industry, the CPC is keen on creating an industrial park with the participation of mid and downstream companies, he said.

NT dollar rises slightly

The New Taiwan dollar yesterday held onto its gains against the US dollar, rising NT$0.006 to close at NT$32.444 on the Taipei foreign exchange market.

Turnover was US$499 million.

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