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Article: QUANCHAI ENGINE 2 SUBSIDIARIES TO MERGE
- Article from:
- AsiaInfo Services
- Article date:
- March 26, 2009
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AsiaInfo Services
03-26-2009
Quanchai Engine 2 Subsidiaries to Merge
QUANJIAO, Mar 26, 2009 (SinoCast Daily Business Beat via COMTEX) -- Chinese diesel engines maker Anhui Quanchai Engine Co., Ltd. (SHSE: 600218) yesterday announced that one of its subsidiaries, Anhui Tianhe Machinery Co., Ltd., would merge with another Anhui Tianyu Machinery Co., Ltd. (transliterated).
Several days ago, both parties entered into the merger agreement, upon which Tianhe Machinery would additionally issue shares worth CNY 50 million for nearly CNY 50.291 million net assets of Tianyu Machinery. And total balance of CNY 290,901.46 will be reckoned in Tianhe Machinery's capital reserve.
Ultimately, Tianyu ...
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