Weichai Power denies talks with GM France unit

Shanghai, February 23 (Gasgoo.com) Chinese state-owned Weichai Power Co announced today that it has not had any discussions with the shareholders of General Motors on acquiring the U.S. automaker's auto parts plant in France, Reuters reported, citing a Weichai statement posted on China Securities Journal.

In its exchange statement, Weichai Power said that last December it contacted the GM unit in Strasbourg about possible cooperation, but they had not had any discussions with its shareholders on the issue of acquisition. Up to now there has been no intention or agreement of any kind on this issue.

Weichai won a deal to pay 2.99 million euros ($3.79 million) for assets of Moteurs Baudouin with a book value of 13.82 million euros in January 23, 2009, but the acquisition still needed government approval.

Moteurs Baudouin SA (MB) is a Cassis-based manufacturer and wholesaler of marine diesel engines, gearboxes, propellers shafts and related products with a registered capital of 13.82 million euros.