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World Transport Reaches $973-Million Deal

September 14, 2000|Bloomberg News

World Transport Authority Inc. said it reached an accord valued at as much as $973 million to make plants for a company representing Chinese investors and state-owned businesses. El Cajon based World Transport climbed 26 cents to close at 82 cents in over-the-counter trading of 6.1 million shares. World Transport produces prefabricated plants for use in developing countries. WorldStar Auto Utility Inc., the company representing Chinese investors, will pay World Transport about $133.2 million to build 358 factories in which light-weight utility vehicles will be produced, World Transport founder Doug Norman said in an interview.

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