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Foton Motor inks sales agreement with Nigeria's Dangote Cement

Nov. 21, 2012 (China Knowledge) - Beiqi Foton Motor Co Ltd<600166>, China's largest commercial vehicle producer in China, has said it inked a sales agreement with Nigeria's Dangote Cement PLC to sell 500 Foton Daimler heavy trucks.

According to a statement filed with Shanghai Stock Exchange, Foton Motor said it had received contract payment from the Nigeria company.

The Chinese automaker said the contract will help Foton Daimler's market promotion in overseas countries.

At Feb 18, 2012, Beiqi Foton Motor set up its truck-making joint venture with Daimler AG with registered capital of RMB 5.6 billion. The 50-50 joint venture principally engaged in the produce of Auman-branded medium- and heavy-duty trucks with a designed annual output capacity of 160,000 units, China Knowledge reported earlier.

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