Yulong to buy Nissan's unit

Yulong to buy Nissan's unit

TAIPEI (DPA): Taiwan's Yulong Motor, breaking into the ASEAN
market, plans to buy 75 per cent of Nissan Motor Philippines Inc
(NMPI) for US$31 million, Yulong announced Friday.

The investment will be made next January, after obtaining
approval from Taiwan's Economics Ministry, general manager Yan
Kai-tai said.

"Yulong will send several executives to join NMPI. Details of
cooperation will be discussed later," Yen said.

Yulong is the leading car maker in Taiwan, with 25 per cent
Japanese capital. In fiscal 1998, it sold 86,374 cars with 1,300-
3,000 cc engines.

As the Yulong Group quickly expands, Yulong Motor plans to
sell its cars to ASEAN countries and China.

"Our goal is to raise our car sales to 5 million units by 2005
in the Chinese market - Taiwan, ASEAN and China, and double our
revenues to US$7 billion," Yen said.