Brilliance: Chinese interested in GM Portuguese plant

Chinese carmaker Shenyang Brilliance Jinbei Automobile (Shenyang, Liaoning; is apparently interested in taking over the GM assembly plant in Azambuja / Portugal. Located near Lisbon, the plant was closed at the end of 2006 as part of the company´s cost-cutting measures. With its own European production facility, the Chinese OEM – which made its debut in Europe with the "Zhonghua" model – could avoid the import duty of 10% that has to be paid when complete vehicles are imported into the EU.

Brilliance China seeks 43 pct jump in 2006 sales

By Alison Leung

HONG KONG, Feb 10 (Reuters) - China's largest minibus maker, Brilliance China Automotive Holdings Ltd. (1114.HK: Quote, Profile, Research), said it aimed to sell 43 percent more cars and buses in 2006 and was in talks to expand a joint venture with partner BMW A.G. (BMWG.DE: Quote, Profile, Research).

The loss-making company wanted to raise sales to 100,000 cars and mini-buses from 70,000 last year, excluding BMW sales, newly appointed chief executive Qi Yumin said on Friday.


Brilliance and BMW sold 17,500 sedans from their venture in northeastern China in 2005 -- doubling the previous year but short of its capacity for 30,000 cars per year.

Chairman Wu Xiaoan cited analysts' expectations that the joint venture would sell between 22,000 and 25,000 BMWs this year, but executives would not set a target.

"For a Chinese joint venture, it needs to boost its production scale," he told reporters in Hong Kong.

Qi said discussions also encompassed increased usage of domestic parts and components.

Analysts polled by Reuters Estimates expect Brilliance to post a HK$36.9 million loss for the 2005 year but record a profit this year, aided by its rising sales and lower steel prices

Brilliance Shares Fall on Outlook

NEW YORK (AP) - Shares of Hong Kong-based Brilliance China Automotive Holdings Ltd. fell Friday, after the company warned that its 2005 results will be hurt by an operating loss at its Zhonghua sedan unit, as well as other factors.

In morning trading, American depository shares of China's largest minibus maker by production were down 68 cents, or 4 percent, to $16.67 on the New York Stock Exchange.