Car products venture

AN agreement has been reached for a Sino-Japanese car interior products joint venture, expected to be set up in Changzhou, Jiangsu province.

Changzhou-Kasai Kogyo Automotive Interior Decorative Co will have US$1.4 million capital, 45 per cent of which will be from Kasai Kogyo Co, 10 per cent from Itochu Co, 15 per cent from China Automotive International Corp and 30 per cent from Changzhou Plastics Weaving Factory.

The Japanese will provide the general manager and most of the equipment.