SHANGHAI, Nov. 23 (SMM) - Zhejiang’s Hailiang Group to purchase a 100% stake in Golden Dragon Precise Copper Tube Group Inc. for 3.2 billion yuan as part of its assets restructuring plan,p5w.net reports.
Zhejiang’s Hailiang Group is the second largest copper tube/pipe manufacturer in China, following Golden Dragon Precise Copper Tube Group Inc.. The M&A will help ease long-standing liquidity crunch at Golden Dragon.
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