| 20-05-2008
On May 20, 2008, ZhongTong Bus indicated it has signed a Public Transport Bus sales contract worthing 64 million US dollars (RMB 448 million). The deal is expected to be finished in this September.
According to the announcement of Zhongtong, This Saudi Arabia Company is a long-time partner of Zhongtong, whose business ranges from school bus to Pilgrimage vehicle and has so far purchased 2.78 million U.S. dollars, 12.46 million U.S. dollars and 21.1 million U.S. dollars of goods from 2005 to 2007 in Zhongtong. Nowadays, this Saudi Arabia Company will import 1,600 units Zhongtong 6103G and 6112G Public Transport bus.
At present, Zhongtong has received 10 percent of the first batch payment of credit letter. The contract takes effect after Zhongtong received the 10 percent of the payment. All buses will be delivered to Saudi Arabia until this September.
ZhongTong Bus Holding Co., Ltd., as an excellent example of Chinese bus enterprise, is a joint-stock company with the production specialized in large buses for more than 37 years. In addition, it is one of earliest companies enlisted in China. The company has established world-advanced integrated Dutch BOVA production lines for bus engineering technology, with annual output of 8,000 H&M-class busses, 2,000 large luxury buses.
Editor: James Yin from Chinabuses.com
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