Daming inks strategic agreement with Baosteel Stainless Steel

Resource from: steelorbis Likes:231

Jul 07,2015

Daming International Holdings Limited (Daming International), a Chinese company which specializes in stainless steel processing, sales and technical services, has announced that it has inked a five-year strategic cooperation agreement with one of its suppliers, Baosteel Stainless Steel, aimed at strengthening cooperation in business development, sales and distribution, value-added services, and product research and development. In addition, as part of the strategic business cooperation between Daming International and Baosteel, Daming will issue 104 million new shares valued at RMB 3.69 per share ($0.6 per share) for Hwabao Trust, which is representing Baosteel Stainless Steel. The new shares will account for 9.09 percent of total equity after issuance. The net income from the new shares estimated at around RMB 382 million ($61.6 million) is expected to be used for general operating funds and for a heavy industry project of Daming International at Jingjiang, Jiangsu Province.

(steelorbis)

【CBCC News Statement】
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.

Add to My Favorites

[Close the window]

Previous ZWZ tapered roller bearings are used for foreign famous brand commercial vehicle axles and suspension systems (pic)
Next Leaders from General Office of Ministry of Science and Technology investigated LYC

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.