Sangang Minguang suspends capacity cooperation with Yixin Iron & Steel
2019-12-27 12:22:38 [Print]
Fujian Sangang Minguang Co., Ltd. announced on December 26 that on 12 December, 2018, it signed the framework agreement on iron & steel capacity cooperation with Fujian Yixin Iron & Steel Co., Ltd. Both parties would 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. Recently, it suspended the above-mentioned strategic cooperation through friendly negotiation with Iron & Steel.
Since the signing of the Framework Agreement, the two sides actively communicated on subsequent cooperation, but the two parties had differences on the specific content of cooperation and did not form a substantial formal agreement. According to the actual situation, the two sides agreed to suspend steel capacity cooperation under the Framework Agreement through friendly negotiation. After the suspension of the Framework Agreement, the company will make overall plans to use the above-mentioned steel capacity index for cooperation and continue to strengthen and optimize the steel industry.
Since the signing of the Framework Agreement, the two sides actively communicated on subsequent cooperation, but the two parties had differences on the specific content of cooperation and did not form a substantial formal agreement. According to the actual situation, the two sides agreed to suspend steel capacity cooperation under the Framework Agreement through friendly negotiation. After the suspension of the Framework Agreement, the company will make overall plans to use the above-mentioned steel capacity index for cooperation and continue to strengthen and optimize the steel industry.
