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open on mon. good to buy?
China Transcom could be doing a share placement soon to fund some expansion plans.
China Transcom is now one of China's leading automobile spare parts manufacturers. It will have a 10% share of the wire harness and connector markets and revenue that could top RMB1b this year. Shareholders yesterday approved China Transcom's acquisition of Henan Tianhai Electric Coin a RTO deal valued at $39.7m.
Leading the combined entity - which will be renamed China Auto Electronics Group (CAEG) - is Rudy Schlais. Mr Schlais, was president and CEO of GM Asia-Pacific and group vice-president of GM for 42 years. He spearheaded the development of an accelerated strategy to increase GM's Asia-Pacific participation, which eventually led to an increase in investment in the region, particularly in China, from US$12m in 1994 to US$2bn in 1998.
A nice technical analysis article on china transcom movement - broke 52 weeks high! Read it here.