Pangang Group signs strategic cooperation agreement with Panzhihua State-owned Investment Group
2017-06-29 17:46:30 [Print]
Pangang Group recently signed the official strategic cooperation framework agreement (“the agreement”) with Panzhihua State-owned Investment (Group) Limited Liability Company (“the State-owned Group”). The two parties will work together for the mergers and acquisitions in vanadium-titanium industry, the set up of vanadium-titanium industry fund, the joint venture cooperation in non-steel industry and the combination of industry and finance, etc.
According to the agreement, the two parties will work together for the mergers and acquisitions in vanadium-titanium industry by taking advantage of Pangang Group’s technological superiority, proven team, and management experience and the State-owned Group’s good government-enterprise relationship and policy resources to vitalize the vanadium and titanium resources held by the State-owned Group, helping to advance the development and transformation of vanadium and titanium industry in Panzhihua. Meanwhile, both parties will jointly set up the Panzhihua Vanadium-titanium Industry Fund according to the market-based operation mode, mainly for investing projects of vanadium and titanium industry.
In terms of the joint venture cooperation in non-steel industry, both parties will take full advantage of their subsidiaries to accelerate development for the vocational education and medical health maintenance and so on in Pangang Group.
In terms of the combination of industry and finance, the State-owned Group will provide support and consulting services for Pangang Group’s fund raising and financing; to work with Pangang Group for integrating quality resources through capital operation; to assist Pangang Group increasing industry value. In the fields of manufacturing, logistics and scientific research, Pangang Group will also give equal preference to the State-owned Group by jointly establishing entity, increasing funding and expanding the stock, as well as by private placement.
According to the agreement, the two parties will work together for the mergers and acquisitions in vanadium-titanium industry by taking advantage of Pangang Group’s technological superiority, proven team, and management experience and the State-owned Group’s good government-enterprise relationship and policy resources to vitalize the vanadium and titanium resources held by the State-owned Group, helping to advance the development and transformation of vanadium and titanium industry in Panzhihua. Meanwhile, both parties will jointly set up the Panzhihua Vanadium-titanium Industry Fund according to the market-based operation mode, mainly for investing projects of vanadium and titanium industry.
In terms of the joint venture cooperation in non-steel industry, both parties will take full advantage of their subsidiaries to accelerate development for the vocational education and medical health maintenance and so on in Pangang Group.
In terms of the combination of industry and finance, the State-owned Group will provide support and consulting services for Pangang Group’s fund raising and financing; to work with Pangang Group for integrating quality resources through capital operation; to assist Pangang Group increasing industry value. In the fields of manufacturing, logistics and scientific research, Pangang Group will also give equal preference to the State-owned Group by jointly establishing entity, increasing funding and expanding the stock, as well as by private placement.
Vanadium Pentoxide Flake 98%min EXW China
Unit:RMB/mt
China ammonium metavanadate producers' operating rate statistics by province by month
Unit: %
