Inchcape PLC - London-based automobile distributor - Signs a deal with Great Wall Motor Co Ltd to develop new areas of strategic collaboration, including "opportunities for Inchcape to distribute GWM vehicles in markets where Inchcape is already present". GWM is a privately-owned Chinese automobile manufacturer. Says the first of these markets will be Indonesia, where Inchcape and GWM are signing a distribution agreement today.
Chief Executive Officer Duncan Tait says: "Today's announcement marks the start of an exciting new chapter for both Inchcape and GWM and is an excellent example of our strategy in action. At Inchcape we accelerate the performance of our mobility company partners, unlocking opportunities through our people and technology, and this is a prime example of how we can achieve this."
Current stock price: 770.00 pence each, up 1.7%
12-month change: up 11%
By Xindi Wei, Alliance News reporter
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Inchcape (INCH)