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FAW Group fixes 2011 procurement budget

From CapitalVue| January 09 , 2011 10:43 BJT

China FAW Group Corporation fixed its 2011 procurement budget at 270 million yuan, reports yicai.com, citing a group release.

The group plans to sell 2.76 million vehicles in 2011 and generate sales income of 400 billion yuan.

According to the release, the group had signed purchase agreements with 26 major suppliers, including Baoshan Iron and Steel (600019) and Jilin Provincial Coal Industry Group.

Shares of FAW Car (000800) dropped 0.66 percent to close at 16.61 yuan today.

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