Chongqing Iron and Steel to bid for 72% equity of Xingang Changlong Logistics
2020-12-18 15:18:17 [Print]
Chongqing Iron and Steel announced on the evening of December 17 that the company intended to purchase 60% and 12% equity of Chongqing Xingang Changlong Logistics Co., Ltd. held by Chongqing Qiancheng Industry Development Co., Ltd. and Minsheng Shipping Co., Ltd. respectively through online auction. The company obtained 28% equity of Xingang Changlong through online auction in 2019, and if this auction is successful this time, it will achieve a wholly-owned holding.
According to the relevant person in charge of Chongqing Iron and Steel, Xingang Changlong Wharf is located in the factory area of Chongqing Iron and Steel Company, adjacent to the raw material wharf, and is the main waterway for the company's finished products. The acquisition of the above-mentioned equity helps the company's unified scheduling and coordinated operation, improves efficiency and reduces costs, conforming to the company's business philosophy of "increasing scale, adjusting structure, and reducing costs".
At the same time, according to the company's current financial status and capital situation, Chongqing Iron and Steel has the ability to purchase. This deal is conducive to advancing the construction of the company's 10 million-ton steel base, improving the industrial chain, optimizing resource allocation, and building the most competitive steel production base in the southwest region, which is in line with the company's development strategy.
According to the relevant person in charge of Chongqing Iron and Steel, Xingang Changlong Wharf is located in the factory area of Chongqing Iron and Steel Company, adjacent to the raw material wharf, and is the main waterway for the company's finished products. The acquisition of the above-mentioned equity helps the company's unified scheduling and coordinated operation, improves efficiency and reduces costs, conforming to the company's business philosophy of "increasing scale, adjusting structure, and reducing costs".
At the same time, according to the company's current financial status and capital situation, Chongqing Iron and Steel has the ability to purchase. This deal is conducive to advancing the construction of the company's 10 million-ton steel base, improving the industrial chain, optimizing resource allocation, and building the most competitive steel production base in the southwest region, which is in line with the company's development strategy.
