Sao Paulo, Brazil, 31 July – Sino-Brazilian group CR Zongshen, created in May this year, has announced its purchase of 100 percent of the capital of Brazilian motorcycle manufacturer Kasinski
The purchase is part of the group’s US$80 million investment plan for the Brazilian market.
With the purchase of Kasinski, motorcycle manufacturer CR Zongshen is to launch a range of 16 bikes in the second half of 2009 with engine capacities from between 110 and 650cc.
CR Zongshen has also just set up a partnership with Korean company Hyosung Motorcycles.
The Sino-Brazilian joint venture is building a factory in Manaus, Amazonia, which should become operational next September with initial production of 90,000 motorcycles.
The Chinese group Zongshen Industrie, which holds a 50 percent stake in CR Zongshen, is considered to be one of China’s biggest light motorcycle manufacturers and is based in Chongqing. (macauhub)