Brief: Yongsheng Advanced Materials and Nantong Yongsheng enter investment agreement with Nantong Management Committee

Yongsheng Advanced Materials

05/08/2016 14:18

Aug 5 (Reuters) - Yongsheng Advanced Materials Co Ltd  3608.HK : 
 * Discloseable transaction in relation to the investment agreement  3608.HK  
 * Company and Nantong Yongsheng entered into the investment agreement with 
   Nantong Management Committee 
 * Says total investment amount of the project is estimated to be approximately 
   RMB100 million 
 * Total investment will be funded by the internal resource of the company 
 * Materials> - nantong management committee conditionally agreed to grant to 
   nantong Yongsheng the land for the development and operation of the project 
 * Project will increase annual production capacity of differentiated polyester 
   filament yarn of by 36.7% from 30,000 tonnes to 41,000 tonnes 
 * Project is expected to increase annual production capacity for differentiated 
   polyester filament yarns with estimated annual revenue of RMB140 million 
 
* Source text for Eikon  ID:nHKS5QjtTK  
 
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