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Article: Nanshan to strip off worsted wool fabric business and purchase aluminum business.(NEWSDESK: Acquisition)
- Article from:
- China Chemical Reporter
- Article date:
- October 6, 2006
CopyrightCOPYRIGHT 2006 China National Chemical Information Center. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Shandong Nanshan Industrial Co., Ltd. (Nanshan, SH: 600219) located in Longkou of Shandong province has announced that it intends to issue 700 million new shares to raise RMB3.5 billion and at the same time spins off worsted wool fabric business, one of its core businesses today, and purchase aluminum business.
The company will purchase aluminum and related assets from Nanshan Group including 75% equity in Longkou Donghai Aluminum Oxide Co., Ltd., 75% equity in Yantai Donghai Aluminum Foil Co., Ltd., and 100 000 t/a electrolytic aluminum, related carbon facilities and 600MW co-generating sets in Nanshan Group itself. The asset value to be injected by Nanshan ...