Second Chinese Company Buys Stake In Nexteer 4-12-2011 - WNEM TV 5

Second Chinese Company Buys Stake In Nexteer 4-12-2011

Nexteer Automotive in Buena Vista Township has a new owner.
The company has been bought by a second Chinese company.
China-based AVIC Automobile Industry Holding now owns a 51 percent stake in Pacific Century Motors.
Officials said daily operations at local plants will not be affected.
Under the terms of the original sale, Pacific Century Motors agreed to honor the UAW's five-year labor contract and keep the headquarters in Buena Vista Township.
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