Fujian Longxi Bearing (Group) Corp., Ltd. Signed Contract to Purchase Land

Resource from: CBCC Likes:3060

Apr 21,2011

April 19 -- Recently, Fujian Longxi Bearing (Group) Corp., Ltd. (LS: 600592) has signed contract to purchase land with the People's Government of Hua'an County in Hua'an Economic Development Zone, involving an amount of about 90.40 million yuan. According to the contract, Hua'an Economic Development Zone will provide LS 1,100 acres of land in Jiulong Industrial Park, which is a Centralized Industrial Park in Hua'an county. At the same time, the People's Government of Hua'an County requires LS to make investment in developing bearings and other high-end machinery components in Jiulong Industrial Park, meanwhile the total investment should reach two billion yuan.

(CBCC)

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