HANGZHOU IRON & STEEL GROUP CO., LTD. signed a share transfer agreement to acquire 62.9525% in Zhejiang Fuchun Ziguang Environmental Protection Co., Ltd. from Hang Zhou Iron & Steel Co.,Ltd. for approximately CNY 980 million.
December 11, 2020
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HANGZHOU IRON & STEEL GROUP CO., LTD. signed a share transfer agreement to acquire 62.9525% in Zhejiang Fuchun Ziguang Environmental Protection Co., Ltd. from Hang Zhou Iron & Steel Co.,Ltd. (SHSE:600126) for approximately CNY 980 million on December 11, 2020. In a related transaction, Zhejiang Feida Environmental Science & Technology Co., Ltd. signed a share transfer agreement to acquire 35% in Zhejiang Fuchun Ziguang Environmental Protection Co., Ltd. from Hang Zhou Iron & Steel Co.,Ltd. for CNY 545 million. The transaction has been resolved at sixth meeting of the eighth directorate of Hang Zhou Iron & Steel Co.,Ltd. and is subjected to its shareholders approval. As on December 28, 2020, Hang Zhou Iron & Steel Co.,Ltd.'s shareholders approved the transaction. The transaction is approved by the shareholders of Zhejiang Fuchun Ziguang Environmental Protection Co., Ltd on December 29, 2020.
Hang Zhou Iron & Steel Co., Ltd. is a China-based company principally engaged in the ferrous metal smelting and rolling businesses. The Company's main products include bars, wires, strips and profiles, as well as billets. The company is also engaged in the raw material and steel trading business. The Company's products are mainly distributed to the domestic market, with East China as its main market.
HANGZHOU IRON & STEEL GROUP CO., LTD. signed a share transfer agreement to acquire 62.9525% in Zhejiang Fuchun Ziguang Environmental Protection Co., Ltd. from Hang Zhou Iron & Steel Co.,Ltd. for approximately CNY 980 million.
HANG ZHOU IRON & STEEL CO.,LTD. 
