Henan Province, China-based ZhongYuan Special Steel Co. has announced that its intends to obtain finance not exceeding RMB 300 million from Bingzhuang financial management firm, based on demand for its production in the current year.
Both companies are controlled by the same group, namely, China South Industries Group Corporation.
ZhongYuan Special Steel stated that the purpose of the transaction is to improve financing ability and to guarantee stable development.
ZhongYuan Special Steel to obtain up to RMB 300 million in finance
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