Shenyang Machine Tool Plan Equity Restructuring

Resource from: CBCC Likes:2946

Nov 30,2006

Shenyang Machine Tool Plan Equity Restructuring Shenyang State-owned Assets Supervision and Administration Commission is planning to sell 49% stake in Shenyang Machine Tool Group in order to optimize the equity composition of this company and enhance its competitiveness. For this purpose a large-scale introduction and promotion conference was held on November 29 in Shanghai. Shenyang Machine Tool Group is a major state-owned machine tool manufacturer in China. Their products include lathe, milling & boring machine, drilling machine, maching center, high speed milling machine and other components etc. Its high-end products accounted for 20% of the domestic market last year. The commission wishes to sell the stake to large corporations from among China's top 100 enterprises or the world's top 500 firms, or to machine industry companies. Besides, the commission plans to sell the stake to three investors with a lock-up period of 5 years, while overseas investors can only have a combined stake of no more than 30%. Go to Shenyang Machine Tool's website

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