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Chery's Syria Partner To Assemble Vehicles In '09

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Shanghai, December 30, 2008: ( Hmisho Economic Group (HEG), Chery's partner in Sybria, will begin production in its new car assembly plant in the last quarter of 2009, according to local media, citing Imad Hmisho, Chairman of the Group.

The new plant is 50% owned by Borouj Trading Company, Chinese carmaker Chery Auto's licensed manufacturer and trade partner in Syria, and will produce cars with engines between 1300CC and 2400CC. It will have an annual capacity of 30,000 units after launch.

Total investment for the plant is estimated at 3.7 million milliards (US$78 million) and it will become the third vehicle assembly plant in Syria.

Hmisho Group is composed of several companies practicing in the domain of heavy metal industries, import, export, car marketing and after-sales services. Its subsidiary Hmisho Trading Company is also the exclusive distributor of China¡¯s FAW Group and Changhe Auto.

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