Brief: Xiwang Special Steel Says Unit Entered MoU

Xiwang Special Steel Co

26/06/2020 16:30

June 26 (Reuters) - Xiwang Special Steel Co Ltd  1266.HK :
    * UNIT ENTERED MOU WITH INSTITUTE OF METAL RESEARCH, CHINESE
ACADEMY OF SCIENCES & 10 INDIVIDUALS
    * AGREEMENT FOR PROPOSED FORMATION OF JV CO
    * REGISTERED CAPITAL OF JV CO WILL BE RMB1 BILLION
    * MOU IN RELATION TO PROPOSED FORMATION OF JV FOR PRODUCTION
&
SALE OF RARE EARTH SPECIAL STEEL , AMONG OTHERS
    * JV CO WILL BE OWNED AS TO 65% BY UNIT
    * JV CO TO BE OWNED 35% BY IMR & TECHNICAL PERSONNEL IN
AGGREGATE

Source text for Eikon:  ID:nHKS8p3nqh 
Further company coverage:  1266.HK 

 ((Reuters.Briefs@thomsonreuters.com;))