Article: BAODING SWAN AIMS TO BUY BAODING SWAN SPANDEX


AsiaInfo Services
11-26-2007
Baoding Swan Aims to Buy Baoding Swan Spandex

BAODING, Nov 26, 2007 (SinoCast via COMTEX) -- Chinese viscose filament and fiber manufacturer Baoding Swan Co., Ltd. (SZSE: 000687) announced today that it planned the buyout of Baoding Swan Spandex Co., Ltd. from its controlling shareholder Baoding Swan Chemical Fiber Group Co., Ltd.

The company said that the acquisition price would be no more than the assessed net assets of the targeted company. Statistics show that by the end of June 2007, Baoding Swan Spandex's total assets had reached CNY 77.84 million. The net assets and liabilities had hit CNY 24.58 million and CNY 53.26 million, respectively.

Buyers ...

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