China First Metallurgical Group Co Ltd agreed to acquire Target assets of Zhuzhou Smelter Group Co. Ltd. from Zhuzhou Smelter Group Co.,Ltd. (SHSE : 600961) for approximately CNY 260 million.
July 04, 2020
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China First Metallurgical Group Co Ltd agreed to acquire Target assets of Zhuzhou Smelter Group Co. Ltd. from Zhuzhou Smelter Group Co.,Ltd. (SHSE : 600961) for approximately CNY 260 million on July 5, 2020. China First Metallurgical Group Co Ltd shall pay the full amount of the consideration to Zhuzhou Smelter Group Co. Ltd. in a lump sum of CNY 205.5 million within five business days after the signing of the Assets Disposal Contract and pay a performance security of CNY 54.564 million within the same time limit. The target assets comprises of certain machines and equipment as well as related constructions location at Qingshuitang production area, Shifeng District, Zhuzhou City, Hunan Province, legally owned by Zhuzhou Smelter Group.
Zhuzhou Smelter Group Co Ltd is a China-based company principally engaged in the mining, smelting and sales of zinc. The Company's main products portfolio consists of zinc products, including zinc alloy ingots, zinc powders, zinc ingots, and others; lead products, including lead ingots and lead alloy ingots; precious metal products, including sponge palladium, sponge platinum, silver ingots, gold ingots, cobalt oxide and others, as well as sulfuric acid, mercurous chloride, crude copper, silver nitrate and others. In addition, the Company is also engaged in trading business. The Company conducts its businesses in domestic and overseas markets.
China First Metallurgical Group Co Ltd agreed to acquire Target assets of Zhuzhou Smelter Group Co. Ltd. from Zhuzhou Smelter Group Co.,Ltd. (SHSE : 600961) for approximately CNY 260 million.
ZHUZHOU SMELTER GROUP CO.,LTD. 
