Lomon Billions signs cooperation framework agreement with Jinchuan Group
2019-12-31 17:59:22 [Print]
Lomon Billions announced on December 29th that it signed a cooperation framework agreement on titanium industry with Jinchuan Group on December 27th
According to Lomon Billions, the joint venture will be established based on the existing assets of Jinchuan Group's titanium plant; the two parties will cooperate to revitalize the idle assets and invest in supporting facilities to improve titanium industrial chains and build a competitive and unique titanium industrial base in West China. After the investment cooperation agreement is formally signed, Lomon Billions will invest funds to fully restart the existing sponge titanium devices and implement the follow-up industrial chain improvement project in stages.
. According to the agreement, the two parties will establish a joint venture . In particular, Jinchuan Group will hold 30% of shares of the joint venture by all existing sponge titanium assets (including land) of its titanium plant, while Lomon Billions will hold the rest 70% of shares . The specific amount of funds will be subject to the formal agreement to be signed after evaluation. According to Lomon Billions, the joint venture will be established based on the existing assets of Jinchuan Group's titanium plant; the two parties will cooperate to revitalize the idle assets and invest in supporting facilities to improve titanium industrial chains and build a competitive and unique titanium industrial base in West China. After the investment cooperation agreement is formally signed, Lomon Billions will invest funds to fully restart the existing sponge titanium devices and implement the follow-up industrial chain improvement project in stages.