Zhejiang Tianma Bearing Co., Ltd. Invests 500,000 Euros to Set up Wholly-owned Subsidiary
Resource from: CBCC Likes:3041
Jun 01,2011
Zhejiang Tianma Bearing Co., Ltd. (hereinafter referred to as the "Company" or "Tianma shares") will invest 500,000 Euros to establish a wholly owned subsidiary TMB Rolling Bearing Co., Ltd. (tentative name).
Zhejiang Tianma Bearing Co., Ltd. held the 4th session of the second meeting of the Board of Directors in May 30, 2011, and passed "The Motion on Establishement of Wholly-owned Subsidiary" by 9 votes to agree, 0 votes against & 0 abstentions. According to the "Articles of Association", the approval authority of this foreign investment just within the foreign investment authority of the company's board of directors, no need to submit to the general meeting for consideration. At the same time, the investment does not involve in affiliate transaction with the investor is Zhejiang Tianma Bearing Co., Ltd. itself, without any other investors.
Basic situation of the proposed wholly-owned subsidiary:
Company Name: TMB Rolling Bearing Co., Ltd. (tentative name)
Registered Capital: 500,000 Euros, with 100% equity held by the company
Legal Representative: Ma Wenqi
Registered Address: Hamburg, Germany
Comany Type: Limited Corporation
Business Scope: design, marketing rolling bearing products, provide after-sales service (tentative)
Purpose of setting up this subsidiary:
In order to expand the company's overseas business, and expand products' international share, meanwhile to further enhance the company's profitability, maximumly achieve shareholders' equity.
Influence on the company after setting up this subsidiary:
The newly established subsidiary will be based in Germany, and further radiation in Europe, thus to improve the products' visibility, further expand the international market, which is in line with strategic objectives set by the company, on the other hand, it also could helpful for the company's further expand and long-term development.
The possible risks encountered during the investment are mainly in the aspect of operation and management in TMB Rolling Bearing Co., Ltd. Therefore, TMB Rolling Bearing Co., Ltd. will strengthen its internal management to promote the steady & rapid development of the company.
(CBCC)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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