Anyang Steel to establish vital materials JV
2019-08-12 08:40:52 [Print]
Anyang Steel announced on the evening of August 8 that the company plans to cooperate with Ningbo Yinyike Innovation Materials Co., Ltd., Anyang Frontier Materials Technology Co., Ltd. and Henan Lide Energy Saving Materials Co., Ltd. to establish a joint venture in Anyang High-tech Development Zone. The company is tentatively named Henan Anyin Vital Materials Co., Ltd. (The final name is subject to the approval of the industrial and commercial registration authority, hereinafter referred to as "joint venture company").
The announcement shows that the joint venture company has a registered capital of RMB125 million (USD17.76 million). Among them, the company will invest RMB63.75 million (USD9 million) in currency with 51% shares; Ningbo Yinyike Innovation Materials Co., Ltd. will invest RMB44.48 million (USD6 million) with 35.58% shares; Anyang Frontier Materials Technology Co., Ltd. will contribute RMB10 million (USD1.4 million) with 8% shares; Henan Lide Energy Saving Materials Co., Ltd. will invest RMB6.78 million (USD963,000) with 5.42% shares. The company will be mainly engaged in slaes of silicon steel, steel products and product and steel technology R&D and technical services.
The announcement shows that the joint venture company has a registered capital of RMB125 million (USD17.76 million). Among them, the company will invest RMB63.75 million (USD9 million) in currency with 51% shares; Ningbo Yinyike Innovation Materials Co., Ltd. will invest RMB44.48 million (USD6 million) with 35.58% shares; Anyang Frontier Materials Technology Co., Ltd. will contribute RMB10 million (USD1.4 million) with 8% shares; Henan Lide Energy Saving Materials Co., Ltd. will invest RMB6.78 million (USD963,000) with 5.42% shares. The company will be mainly engaged in slaes of silicon steel, steel products and product and steel technology R&D and technical services.
