TMCnet News
Putian Telecommunications Cable to Invest CNY225mn in JVCHENGDU, Jul 17, 2012 (SinoCast Daily Business Beat via COMTEX) -- Chengdu PUTIAN Telecommunications Cable Co., Ltd. (SEHK: 1202) announced on July 16 that it will establish a joint venture with China Potevio Co., Ltd., Fasten Group and Jiangsu Fasten Co., Ltd. (SZSE: 000890). These four companies will respectively hold a 45%, 5%, 31% and 19% stake in the joint venture. The joint venture will see a registered capital of CNY 500 million, of which PUTIAN Telecommunications Cable will contribute CNY 225 million. The rest three shareholders will respectively contribute CNY 25 million, CNY 155 million and CNY 95 million. All the investment will be made in the form of cash and will be made in two phases. The joint venture will be engaged in the production of light-guide fiber, cable and relevant products for communication, and will independently run or agent the import and export of other commodities and technologies. The annual production capacity of the joint venture is 10 million core kilometers of optical fibers and 11 million core kilometers of optical cables. Source: news.ccidnet.com (July 17, 2012) |