SHANGHAI, Jun. 26 (SMM) – Jiaozuo Wanfang Aluminum Manufacturing Co., a subsidiary of Aluminum Corporation of China (Chalco), will sell aluminum alloy bar to related parties between July and December, it told Shenzhen Stock Exchange today.
Jiaozuo Wanfang Aluminum is expected to sell 1,560 tonnes of aluminum alloy bar with some 21.84 million yuan ($3.54 million), tax included, to Jiaozuo Wanfang Group during the second half of the year. The latter holds 7.63% in its stake. It will also sell 2,400-3,000 tonnes of the same product to Zhengzhou Research Institute of Chalco at 33.60-42.00 million yuan, tax included, the company disclosed.
Jiaozuo Wanfang Aluminum announced June 25 to continue to suspend share trading due to major asset restructuring.