Shandong Haihua Co., Ltd. has decided to sell assets relevant to its white carbon black subsidiary.
The assets will be transacted through Shandong Property Rights Exchange Center.
The white carbon black subsidiary was established in Aug. 1998 in Weifang Binhai Economic and Technological Development Zone.
The valuation of the assets is 53.99 million yuan.
The money will be used to supplement Shandong Haihua’s cash flow to focus on its key businesses.
Shandong Haihua belives that the transaction will revitalize the low-efficient assets, increase the efficiency of its operation, and help it concentrate on major businesses.
