China Direct to acquire Shanghai Long Chemicals
20/09/2006
Under the agreement, CDI China, Inc., a wholly-owned subsidiary of China Direct, will inject $701,250 to recapitalise Shanghai Long. After the recapitalisation, it will own 51% of Shanghai Long. Current management of Long, will work with management of CDI Shanghai Company, a wholly-owned subsidiary of CDI China, Inc., in managing the daily operations of Long.
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