China Auto Logistic Inc. announced that the company (through its wholly-owned subsidiary) has entered into a Cooperation Framework Agreement with respect to the establishment of a Joint Venture that will own and operate a used car business. Participation in the joint venture is contingent, however, on the successful completion by the company of the acquisition of the Tianjin Airport International Automall, where the used car business will be operated. The acquisition is currently still in negotiations.
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- China Auto Logistic Inc. Enters into a Cooperation Framework Agreement with Respect to the Establishment of a Joint Venture That Will Own and Operate a Used Car Business