Orient Zirconia to transfer 100% equity of Chaoyang Oriental Zirconium to Yunnan Guoti
2021-03-25 14:04:59 [Print]
Orient Zirconia announced on March 24 that in order to improve the company's capital efficiency and optimize the company's asset structure, the company transferred 100% equity of Chaoyang Oriental Zirconium to Yunnan Guoti Metal Co., Ltd., a holding subsidiary of Lomon Billions Group Co., Ltd., for a consideration of RMB164 million (USD25.11 million).
Orient Zirconia said that the equity transfer will help to further focus on the R & D, production and sales of zirconium dioxide and zirconium oxychloride products, concentrate manpower, material and financial resources to accelerate the transformation to the modern emerging zirconium products field, vigorously expand new business fields on the basis of consolidating the original product line, develop high value-added emerging zirconium products, and get rid of the increasingly fierce competition in the traditional zirconium product market and the continuous reduction of product profits, and further enhance the company's core competitiveness.
Orient Zirconia said that the equity transfer will help to further focus on the R & D, production and sales of zirconium dioxide and zirconium oxychloride products, concentrate manpower, material and financial resources to accelerate the transformation to the modern emerging zirconium products field, vigorously expand new business fields on the basis of consolidating the original product line, develop high value-added emerging zirconium products, and get rid of the increasingly fierce competition in the traditional zirconium product market and the continuous reduction of product profits, and further enhance the company's core competitiveness.
Zirconium Oxychloride Zr(Hf)O2 36%min, Fe2O3 2ppm max EXW China
Unit:RMB/mt
China zirconium oxychloride producers' output statistics by province by month
Unit: mt
