China Metal Resources Utilization (CMRU) (01636) said it agreed to acquire 30% equity interest in Sichuan Baohe Fushan Resources Recycling Development Co., Ltd. at Rmb105 million to Rmb150 million.
The target is principally engaged in the operation and the development of an industrial park in the PRC. It is also licensed to operate in the collection, processing and sale of scrap materials.
The company expects the acquisition would provide a platform for potential vertical expansion of the Group into the upstream scrap metal business in the future.
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