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Article: CHINA'S SANJIU PULLS PLUG ON JOINT VENTURE WITH ITOCHU, ALFRESA.
- Article from:
- AsiaPulse News
- Article date:
- December 5, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. 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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BEIJING, Dec 5 Asia Pulse - Sanjiu Enterprise Group has sold its stake in a drug wholesale joint venture to the two other co-owners: Itochu Corp. (TSE:8001) and Alfresa Holdings Corp. (TSE:2784).
The move was part of China Resources Group's initiative to reorganize the money-losing operations of foreign joint ventures at Sanjiu, a group firm.
The pharmaceutical wholesaler, located in Guangdong Province, was 45 per cent owned by Sanjiu's Japanese unit, ...