China-based steel- and pipe-maker Sutor Technology Group Limited (Sutor) has announced on September 2 that its wholly owned subsidiary Changshu Huaye Steel Strip Company Limited has signed a strategic cooperation agreement with China Construction Bank.
Under the agreement, China Construction Bank will provide Sutor with financial total solutions services covering various services, including bank loans, lines of credit, consultation for mergers & acquisitions, asset management and restructuring.
Commenting on the strategic cooperation agreement, Lifang Chen, Chairwoman and CEO of Sutor stated, "The strategic agreement with China Construction Bank will enhance our liquidity and provide the company with capital to pursue growth opportunities. It addition, it will help Sutor improve its overall ability to manage capital and utilize the capital markets."