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GE to Buy 30% of Unit of China's Little Swan Oct 11, 2007 |
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General Electric Co has agreed to buy a 30% stake in a unit of Chinese washing machine maker Wuxi Little Swan for US$7.1 million, the Chinese company said. GE will help Little Swan to sell washing machines overseas and both sides will cooperate on research and development, Little Swan said.
Little Swan is based in the eastern Chinese city of Wuxi. (Reuters)