International Business

Sanyo Joins Venture in China: Japan’s Sanyo Electric Co., a major consumer electronics maker, has joined a joint venture in China to produce vacuum cleaners and vacuum-cleaner engines, a Sanyo spokesman said. The new company, Sanyo Electric Home Appliances Co., will be capitalized at $10 million, with up to $20 million in investment expected during the next five years. Sanyo Electric will hold a 60% share in the project, with the remaining share split equally between Sanyo Electric Trading Co., Sanyo Electric China Co., the Japanese trading company Kanematsu and the Agricultural, Industrial and Commercial Head Co. in Jiangsu province. The company is expected to begin producing vacuum cleaners and vacuum-cleaner motors in June, 1996.