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China Nonferrous Metal to Sell 2 Subsidiaries
May 13,2010 10:54CST
industry news
Source:SMM

BEIJING, May 13 -- China Nonferrous Metal Industry's Foreign Engineering and Construction Co yesterday announced that it will sell off an electricity firm and a coal firm on the China Beijing Equity Exchange.

The two subsidiaries, which are both based in Sichuan Province, have a combined book value of RMB 71.56 and will be sold for RMB 39.92 million in total.

The seller said that the sale will not have an impact on its fiscal results for 2010 if the two subsidiaries are purchased by the end of this year.

The Shenzhen-listed firm on May 5 announced plans to inject a 9.26% stake in Yindu Mining into WeiDa Medical Applied Technology Co Ltd in exchange for a 10.85% stake or 58.07 million shares of WeiDa Medical.

 

 

NFC
non-ferrous metal industry

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