Article: SWELL HOLDING TO QUIT SANITARY WARE UNIT


AsiaInfo Services
06-04-2009
Swell Holding to Quit Sanitary Ware Unit

CHONGQING, Jun 04, 2009 (SinoCast Daily Business Beat via COMTEX) -- Chongqing Swell Holding (Group) Co., Ltd. (SHSE: 600145) plans to sell a 100% stake in Chongqing Swell Sanitary Ware Co., Ltd. (transliterated) to its second biggest shareholder Chongqing Light Industry & Textile Holding (Group) Co., Ltd.

Swell Holding, one of the leading sanitary ware producers in southwest China, made an announcement on June 2, 2009 about the sale of the assets, whose price will not be less than its evaluated net value.

Notably, the Shanghai-listed company signed an agreement with Light Industry & Textile Holding on May 21 to ...

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