Aeolus Tyre Assets Recuperated by SASAC for Record
Fengshen Tire emphasizes that this shows that the State-owned Assets Supervision and Administration Commission of the State Council began to review the assets reorganization proposed by the company in April 2017 and filed the assets assessment report involved in the assets reorganization. It is reported that Fengshen Tire intends to purchase a 90% stake in PTG (Pirelli Industrial Tires) through the issuance of shares, and to purchase 100% of Guilin Boli and Huanghai Group's industrial tire-related land and property. The relevant person in charge of the company said: "For this major asset restructuring event, Fengshen Tire has completed the asset evaluation and filing procedures." It is understood that Fengshen Tire has a 10% stake in PTG. After the transaction was completed, the company received a 100% stake in Pirelli Industrial. At that time, it will become the world’s fourth largest industrial tire manufacturer in China, and it will join China National Chemical Industry’s only industrial tire asset holding platform. Cnc Engraver,Cnc Engraving Machine,Engraving Machine,Precision Cnc Engraver WEISS MACHINERY CO., LTD. , https://www.weissmachinery.com
Aeolus Tire intends to purchase PTG by issuing shares