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Yellow Sea Rubber to invest RMB100 mln in new tire subsidiary
2013-7-15 0:00:00Font Size：Big Medium Small
Qingdao Yellow Sea Rubber
Qingdao Yellow Sea Rubber Co. (600579.SH) is to invest 100 million yuan to set up a new wholly-owned subsidiary engaging in tire manufacturing and sales.
The subsidiary will be located in Qingdao city of eastern China’s Shandong province.
The Shanghai-listed firm has been running in the red ink since 2005, with net loss respectively at 98.9971 million yuan, 319.3236 million yuan, and 9.8895 million yuan for the three years from 2010 to 2012.
Yellow Sea Rubber announced an asset restructuring plan earlier on June 1, planning to sell all its assets and liability to ChemChina or a third party entity designated by ChemChina.
(Edited by Olivia, Olivia@tireworld.com.cn)
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