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Article: Sutor Acquires Ningbo Zhehua Heavy Steel Pipe Manufacturing Co., Ltd.
- Article from:
- PR Newswire
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. 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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DONGBANG TOWN, China, Nov. 10 /PRNewswire-Asia-FirstCall/ -- Sutor Technology Group Limited (the "Company" or "Sutor") , a leading provider of fine finished steel products used by steel fabricators and other applications in China, today announced the signing of an agreement to acquire Ningbo Zhehua Heavy Steel Pipe Manufacturing Co., Ltd. ("Zhehua") for US$6.62 million in a cash transaction. Sutor expects to close the transaction as soon as the transfer of the equity interest in Zhehua is approved by local authorities.
Located in Ningbo, China and incorporated in 2004, Zhehua produces and sells longitudinally welded steel pipes and spiral welded steel pipes ...