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Article: FUSHUN SPECIAL STEEL ENTRUSTS EXPORT TO SIBLING

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AsiaInfo Services
Article date:
June 16, 2009
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AsiaInfo Services
06-16-2009
Fushun Special Steel Entrusts Export to Sibling

FUSHUN, Jun 16, 2009 (SinoCast Daily Business Beat via COMTEX) -- Fushun Special Steel Co., Ltd. (SHSE: 600399), a listed arm of Dongbei Special Steel Group Co., Ltd., has recently signed an agreement to entrust Dongbei Special Steel Group International Trade Co., Ltd. (transliterated), a global trading arm of its parent, with the product export.

The agreement will be valid within five years from January 1, 2009. Under its terms, Fushun Special Steel will give 0.6% of the settlement amount from the export to its sibling as agency fees, estimated at about CNY 1.2 million.

The move is believed to help the ...

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