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UCD (01599) forms JV for tram business operations [ET Net News (China)]
[September 23, 2014]

UCD (01599) forms JV for tram business operations [ET Net News (China)]


(ET Net News (China) Via Acquire Media NewsEdge) [ET Net News Agency, 23 September 2014] Beijing Urban Construction Design & Development Group (UCD) (01599) said it agreed to establish a joint venture with Beijing Urban Construction Installation Group Co., Ltd. (BUCIC) to commence operations in reliance on the tram market.



UCD and BUCIC will own 60% and 40% equity interests in the JV. The registered capital of the JV will be Rmb30 million. The JV will be engaged in research and development and design of intelligent transportation control system; provision of technical consultancy, technical services and technology transfer in the relevant areas; design and construction of building intelligent construction and engineering; specialised construction of building intelligent construction and engineering; design, production and sales of computer software (excluding the special products of computer information system security); system integration; research and development, design and sales of mechanical equipment as well as other relevant businesses.

BUCIC is a connected person of UCD by virtue of it being a non-wholly-owned subsidiary of Beijing Urban Construction Group Co., Ltd., the controlling shareholder of UCD. (HL) (c) 2014 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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