Beiqi Foton is priority supplier for Sinopec and China Railway

Chinese automaker Beiqi Foton Motor Co. Ltd. signed separate cooperation framework agreements with two companies in early February—China Petroleum and Chemical Corp. (Sinopec) and China Railway Construction Corp. (CRCC). The three companies agreed to collaborate on R&D, manufacturing, procurement, market development and brand promotion. The agreement also names Beiqi Foton as the priority supplier for both Sinopec and CRCC for logistics equipment, construction machinery and vehicles. (February 13, 2009)