19
Jul
09:12
Yongjin finances Jingjiang Tsingtuo cold rolling plant
China-listed Zhejiang Yongjin Metal Technology has agreed with Tsingtuo Group’s Jiangsu Tsingtuo to jointly increase the capital of Jingjiang Tsingtuo by CNY 190 million ($28m) in proportion to the shareholding, Kallanish notes.
Last week, Yongjin signed a contract to purchase 70% equity of Jingjiang Tsingtuo through its subsidiary Jiangsu Yongjin (see Kallanish passim). According to the shareholding ratio, Jiangsu Yongjin and Jiangsu Tsingtuo would contribu…
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Very good overview of the weekly steel market.
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