Chinese Company Geely to Buy Volvo

http://www.nytimes.com/2010/03/29/business/global/29auto.html?src=me&ref=business
This article is concerned with the acquisition of Volvo by a Chinese company Geely. One thing which is repeatedly stressed in the article is that after the acquisition, Volvo will remain Volvo, and its management. “I want to emphasize that Volvo is Volvo and Geely is Geely — Volvo will be run by Volvo management,” Mr. Li , the chairman of Zhejiang Geely Holding Group,said at a news conference in Goteborg, Sweden, on Sunday. “We are determined to preserve the distinct identity of the Volvo brand.”
In 2005, Lenovo, a Chinese-based multinational computer technology corporation, purchased the IBM personal computer division. And since then, ThinkPad range has been manufactured and marked by Lenovo. This case is similar to the case of Volvo. Both companies, Lenovo and Geely are private owned company and actually they are started by some Chinese entrepreneurs. I feel like both of them seem to use this way in which they purchase an internationally-recognized brand from a well-known company to boost up their own reputation at China and in the world. Actually, this strategy works pretty well. Fifteen years ago, Lenovo was just a small company in Zhong Guan Cun, a technology hub in Haidian District, Beijing. But now it turns out to be an internationally recognized company and in China, it is a well-known brand. Geely is actually famous for its chairman, Mr.Li, who once said that cars are no more than four wheels and a sofa. But after the acquisition of Volvo, I think the majority of Chinese people will see it in a different light and Geely will have a large chance of boosting up its sales at China.