Brief: Chia Tai Enterprises International's unit enters into compensation agreement

CPBIO Holding

17/11/2016 11:48

Nov 17 (Reuters) - Chia Tai Enterprises International Ltd 
 3839.HK  :  
    * Unit entered into a relocation compensation agreement with 
people's government of Zhumadian City 
    * Relocation compensation agreement in order to cooperate 
with planning arrangements of Zhumadian Municipal GovernmentAs 
result of government acquisition, Zhumadian Huazhong will 
relocate production facilities at about RMB32.8 million 
    * Zhumadian Huazhong will build new production plants and 
facilities on new land to continue its manufacturing operations 
    * Humadian Municipal Government will pay zhumadian huazhong 
a total relocation compensation amounting to approximately 
RMB211.7 million 
    * Expected that, upon completion of relocation, co will 
record a net gain attributable to shareholders of RMB80 million 
    * Estimates that whole relocation, including construction of 
new factory, will take about two years 
    * Relocation is not expected to have a material impact on 
company's normal production and operations 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nHKS8J0cTM 
Further company coverage:  3839.HK  
 
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