China Automotive Systems rises in pre-market on new parts contract
China Automotive Systems Inc. (Nasdaq:CAAS) shares are up in pre-market trading today after the China-based company announced it had signed a deal with Dongfeng Peugeot Citroen Automobile Company Ltd. Beginning this month, China Automotive’s car parts subsidiary will ship 3,000 units of power steering gears per month to Dongfeng. China Automotive Systems said Dongfeng produced more than 213,000 vehicles in 2007; about 207,000 of those were sold.
Shares of China Automotive Systems rose to $6.00 in pre-market trading, up 3.45% or $0.20 from Friday’s close.
Shares of China Automotive Systems rose to $6.00 in pre-market trading, up 3.45% or $0.20 from Friday’s close.
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