Tri-Ring to buy Polish bearings maker

Shanghai Daily 21 May 2013
CHINA’S Tri-Ring yesterday signed an agreement to buy Polish bearings maker FLT Krasnik, the second-largest Chinese investment in Poland, its industrial development agency said.
The group signed the accord with Poland’s treasury to buy the ARP agency’s 89.15 percent stake, ARP spokeswoman Roma Sarzynska-Przeciechowska said.
The takeover comes a year after then Chinese Premier Wen Jiabao pledged to double bilateral trade turnover with Poland over five years.
The spokeswoman refused to disclose how much Tri-Ring would pay for the stake but said it was below the 56 million euros (US$72 million) spent last year in China’s largest investment in the EU member.
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Source: http://www.globalpost.com/dispatch/news/afp/130520/chinas-tri-ring-buys-polish-bearings-maker-flt-krasnik