August 8 – Guangdong Greatoo Molds (002031) plans to form a subsidiary in an unspecified location in India for US$12.87 million, reports Shanghai Securities News, citing a company filing. The first phase of the project requires an investment of 90 million yuan, with a construction period of 18 months. The production facility will cover a land area of 19,040.1 square meters.

The subsidiary aims to serve large Indian tire companies that produce for domestic and international clients.

The completed project could add 48 million yuan in annual revenues, accounting for 8.46 of the total earned in 2010.

Source:capitalvue