Bamboo Capital Group and 1-5 Auto sign comprehensive cooperation agreement
Bamboo Capital Group and 1-5 Auto sign comprehensive cooperation agreement
Bamboo Capital Group (BCG) and 1-5 Auto Joint Stock Company on December 24 signed a comprehensive cooperation agreement.
Accordingly, the board of management of 1-5 Auto will welcome BCG to invest in 1-5 Auto and hold more than 50 per cent of the company’s shares in 2016, besides cooperating with the latter in selling the latter’s trucks and buses, and advising the latter on financial matters, mobilising capital and getting the latter’s stock listed in 2016.
“This cooperation will combine the expertise, know-how and potentials of BCG and 1-5 Auto to bring about the greatest efficiency,” said Nguyen The Tai, vice president cum general director of BCG.
1-5 Auto was established in 1956. It has the capacity of more than 5,000 cars per year, providing to the market a wide-range of products including transporting vehicle, 29 to 80-seat bus, heavy-duty truck, light-duty truck, special use vehicle, Asphalt cement batching plant, rock grinder, auto/train/ship interiors and accessories made of composite and leather. The company has nation-wide auto showrooms and more than 100 batching plants.
