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Article: Feishang to acquire private copper refinery in eastern China.
- Article from:
- China Business News
- Article date:
- September 26, 2005
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Feishang to acquire private copper refinery in eastern China
Shanghai. September 26. INTERFAX-CHINA - Eastern China's Anhui Wuhu Feishang Industrial Co. Ltd. will spend RMB 100 mln (USD 12.39 mln) to acquire a 35.17% stake in Wuhu Hengchang Copper Refinery Co. Ltd., company officials said Monday.
"The main purpose for the acquisition is to enhance the cash flow in the Hengchang Refinery, and integrate Feishang's assets in Wuhu Anhui," Song Zhigang, Xinke's board secretary, told Interfax.
Following the acquisition the refinery's share structure will also change.
Wuhu Xinke New Materials Co. Ltd will reduce its shares in Hengchang ...