Sangang Minguang signs cooperation agreement with Yixin Iron & Steel
2018-12-18 17:25:28 [Print]
On 12 December, 2018, Fujian Sangang Minguang Co
Based on the agreement, Sangang Minguang will own 51% by contributing 1.22 million tons of iron capacity index, 1 . 35 million tons of steel capacity index, cash and other assets; Yixin Iron & Steel will own 49% by contributing 960,000t of replaced iron capacity index, 1 . 2 million tons of replaced steel capacity index, all real estate properties, public and auxiliary facilities confirmed available by both parties, cash and other assets.
. , Ltd . (Sangang Minguang) signed the framework agreement on iron & steel capacity cooperation with Fujian Yixin Iron & Steel Co . , Ltd . (Yixin Iron & Steel) in Luoyuan county, Fuzhou, Fujian province . Both parties will carry out strategic cooperation on iron & steel capacity index and establish a joint-venture by taking advantage of respective index and integrating resources and capital.
Based on the agreement, Sangang Minguang will own 51% by contributing 1.22 million tons of iron capacity index, 1 . 35 million tons of steel capacity index, cash and other assets; Yixin Iron & Steel will own 49% by contributing 960,000t of replaced iron capacity index, 1 . 2 million tons of replaced steel capacity index, all real estate properties, public and auxiliary facilities confirmed available by both parties, cash and other assets.