SORL Auto Parts reaches brake systems deal
(chinatrucks.com, Feb.02, 2010)Chinese auto parts supplier SORL Auto Parts Inc. said Tuesday it reached an agreement to sell more brake systems and other products to an agricultural vehicle and light-duty truck producer.
SORL, based in Zhejiang, China, said it plans to work with Shandong Shifeng Group, to improve its agricultural vehicle and truck production.
The company did not disclose the value of the deal, but the announcement sent U.S.-traded shares of SORL climbing 87 cents, or 7.5 percent, to $12.52 in afternoon trading.
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