McVicar to acquire the remaining 38% interest in Hangzhou Changlong Chemical
McVicar Industries Inc. announced that its fully owned Chemical subsidiary, McVicar (Hongkong) Advanced Materials Co. Ltd. ("MAM") have reached an agreement with British Virgin Island based Sanlong Holdings Co. Ltd. to purchase its 38% equity interest in Hangzhou Changlong Chemical Co. Ltd. Sanlong obtained the 38% interest in Changlong in January, 2009 by exchanging its 9.5% equity interest in MAM. MAM will pay a cash amount of RMB 9,405,000 (~CAN $1.47 million) for the acquisition. After this transaction, MAM will have 100% ownership of Changlong and will have the benefit of simple operation of the company.
Most read news
Organizations
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.