Chalco Logistics Group to increase capital of 8.1894 million yuan to Southwest Aluminum Transportation
2020-03-27 17:16:46 [Print]
Chalco announced on the evening of March 26 that in order to promote the integration of regional logistics resources and reduce logistics costs, Chalco Logistics Group Co., Ltd., a wholly-owned subsidiary of the company, plans to increase its capital to Chongqing Southwest Aluminum Transportation Co., Ltd. in cash through agreement, with an amount of 8.1894 million yuan (1,155,569 US dollars). After the completion of the capital increase, the registered capital of Southwest Aluminum Transportation will increase to 16.0577 million yuan (2,265,829 US dollars), and Chalco Logistics will hold its 51% equity and become its controlling shareholder.
Chalco said the deal will help Chalco Logistics to connect the upstream and downstream logistics services, promote and enhance the service brand and advantages of Chalco Logistics, further enhance Chalco Logistics' influence in the logistics in Sichuan and Chongqing, and promote the integration and development of logistics business in Southwest China.
Chalco said the deal will help Chalco Logistics to connect the upstream and downstream logistics services, promote and enhance the service brand and advantages of Chalco Logistics, further enhance Chalco Logistics' influence in the logistics in Sichuan and Chongqing, and promote the integration and development of logistics business in Southwest China.
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Unit:RMB/mt
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