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China: Beijing investors for glassmaker regrouping

Hony Future Investment Advisor Ltd. and the municipal government of Qinhuangdao, Hebei Province, north China, have reportedly reached an agreement to make investments of USD 100 million in Qinhuangdao…

Hony Future Investment Advisor Ltd. and the municipal government of Qinhuangdao, Hebei Province, north China, have reportedly reached an agreement to make investments of USD 100 million in Qinhuangdao-based glassmaker Yaohua Glass Group, formerly known as Qinhuangdao Yaohua Glass Factory, and Qinhuangdao Beifang Glass Group Corporation, founded in 1976. The move will boost the reform of ownership of Yaohua Glass Group and the regroup of the two companies under the aegis of the Qinhuangdao state-owned Assets Supervision and Administration Commission. Yaohua Glass Group, founded in 1922, expects to transform the operation mechanism, set up new production lines, and sharpen its competitive edge through the introduction of new investors.

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