GRIAM: Holding subsidiary and controlling shareholder to set up Xiong'an Rare Earth Company
2019-07-31 16:25:29 [Print]
On the evening of 30 July, Grinm Advanced Materials Co., Ltd. (GRIAM) announced that its holding subsidiary Grirem Advanced Materials Co.,Ltd. (Grirem) and controlling shareholder General Research Institute for Nonferrous Metals (GRINM) will jointly invest and set up Hebei Xiong'an Rare Earth Functional Materials Innovation Center Co., Ltd. (Xiong'an Rare Earth)
According to the announcement, Xiong'an Rare Earth has a registered capital of no more than RMB100 million (USD14.53 million) and an initial subscribed capital of RMB77 million (USD11.19 million), including RMB30 million (USD4.36 million) from GRINM and RMB20 million (USD2.91 million) from Grirem. Other shareholders, including China Rare Metal and Rare Earth Co., Ltd. and China Nonferrous Metals Industry's Foreign Engineering and Construction Co., Ltd., all show interest in equity participation and the subscribed capital contribution of each company will be RMB2-5 million (USD0.29-0.73 million) in terms of currency. Specific capital contribution depends on actual payment.
Located in Xiong'an of Hebei, Xiong'an Rare Earth will be engaged in R&D, technical advisory, technical exchange, technology transfer and achievement incubation of rare earth materials and their application technologies, achievement evaluation, sales of rare earth products and chemical products (excluding hazardous chemicals), etc.
According to the announcement, Xiong'an Rare Earth has a registered capital of no more than RMB100 million (USD14.53 million) and an initial subscribed capital of RMB77 million (USD11.19 million), including RMB30 million (USD4.36 million) from GRINM and RMB20 million (USD2.91 million) from Grirem. Other shareholders, including China Rare Metal and Rare Earth Co., Ltd. and China Nonferrous Metals Industry's Foreign Engineering and Construction Co., Ltd., all show interest in equity participation and the subscribed capital contribution of each company will be RMB2-5 million (USD0.29-0.73 million) in terms of currency. Specific capital contribution depends on actual payment.
Located in Xiong'an of Hebei, Xiong'an Rare Earth will be engaged in R&D, technical advisory, technical exchange, technology transfer and achievement incubation of rare earth materials and their application technologies, achievement evaluation, sales of rare earth products and chemical products (excluding hazardous chemicals), etc.
