Shanghai Carthane to Set Up Subsidiary in Morocco

MT Newswires Live

2025/01/29

Shanghai Carthane (SHA:603037) plans to establish a subsidiary in Morocco to meet the demands of customers in Europe and Africa, with an initial investment of up to 40 million yuan, according to a Monday filing with the Shanghai bourse.

The tentatively named Kaizhong Morocco will develop and produce automotive components, the filing said.

The initial investment will be used for setting up the company, purchasing land, and constructing and renovating facilities.

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