Wepon to sell shares of two subsidiaries at 1.35 billion yuan
2020-12-24 16:51:50 [Print]
Wepon announced on December 24 that it plans to sell 100% equity of Dongliang Aluminum Co. Ltd. and 51% equity of Huzhou Jiacheng Powder Coatings Co., Ltd. to Huzhou Wepon Investment Co, Ltd. by cash transaction. Through negotiation between the two parties, the transaction price of this sale of equity was determined to be 1.35 billion yuan (207 million US dollars).
After the deal closes, the company will spin off its aluminum-processing business, allowing it to focus on the pharmaceutical industry and further highlight its main business, Wepon said.
After the deal closes, the company will spin off its aluminum-processing business, allowing it to focus on the pharmaceutical industry and further highlight its main business, Wepon said.
Aluminum Alloy A356.2 Delivered China
Unit:RMB/mt
China secondary aluminum alloy producers' output statistics by province by month
Unit: mt
