Donghe New Materials terminates stake acquisition in Haiming Mining
2024-11-25 16:50:06 [Print]
On November 22, Liaoning Donghe New Materials Co., Ltd. announced the decision to terminate the acquisition of a 70% stake in Haicheng Haiming Mining Co.,Ltd. due to risks associated with external guarantees, and the two sides have signed an agreement to end the deal.
Earlier this year, the company announced that it planned to acquire a 70% stake in Haiming Mining, which is mainly engaged in the mining of magnesite, for up to RMB500 million (USD69 million) in order to expand business scale and boost profitability.
Donghe New Materials is engaged in the R&D, production and sales of magnesia refractories such as fused magnesia, caustic calcined magnesia, high-purity magnesia, shaped and amorphous refractories.
Earlier this year, the company announced that it planned to acquire a 70% stake in Haiming Mining, which is mainly engaged in the mining of magnesite, for up to RMB500 million (USD69 million) in order to expand business scale and boost profitability.
Donghe New Materials is engaged in the R&D, production and sales of magnesia refractories such as fused magnesia, caustic calcined magnesia, high-purity magnesia, shaped and amorphous refractories.
Magnesia D.B. 96.5%min 0-30mm EXW China
Unit:RMB/mt
China fused magnesia producers' sales to production ratio statistics by province by month
Unit: %
