August 30, 2008

Xinxing Pipe to buy stake in New Yegang\'s mill

It is reported that Xinxing Pipe Corporation and Hubei New Yegang Co signed an acquisition & restructuring framework contract in Beijing.

As per report under the contract, Xinxing Pipe Corporation will buy 60% stake by cash in Huangshi Xinxing Pipe Co, which is invested by Hubei New Yegang Co and its cast pipe company leaving the left 40% to be held by New Yegang Co.