Ruitai Materials Technology (002066.SZ) said Thursday it will invest US$7.04 million (RMB47.9919 million) in cash to set up a joint venture fireproof material company with Rongyao Group, a Henan province-based material maker, the Securities Times reported. Henan Ruitai Fireproof Materials will have US$11.74 million (RMB80 million) in registered capital, 59.99% of which is held by Ruitai Materials. Rongyao will inject premises and other manufacturing equipment for its 40.01% stake.

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
C-M-O-D-O AUTHENTIC SITE PayPal
@2014 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate