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China Automotive gets Dongfeng supply contract

By Associated Press
July 7, 2008 | Comments (0)

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China Automotive Systems Inc., a supplier of power steering systems and components, on Monday said it signed a supply agreement with Dongfeng Peugeot Citroen Automobile Co.

Financial terms were not disclosed.

Under the agreement, beginning in July, the company's Jingzhou Henglong Automotive Parts Co. subsidiary will ship 3,000 units of power steering gears per month to Dongfeng for its Dongfeng Peugeot 206 model.

The two companies are also in the process of finalizing commercial orders for two other models, China Automotive said.

China Automotive shares closed unchanged at $5.80.

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