Huafon Aluminium to Fully Acquire Controlling Shareholder's Subsidiary for 100 Million Yuan

MT Newswires Live

11/27

Shanghai Huafon Aluminium (SHA:601702) plans to fully acquire Shanghai Huafeng Pu'en Polyurethane for 100.1 million yuan, according to a Shanghai bourse filing on Thursday.

Huafeng Pu'en will be bought from Huafeng Group, the Chinese aluminum sheet manufacturer's controlling shareholder.

The producer of polyurethane insulation materials is not currently operating due to underperformance, and it only leases out small office spaces and vehicles.

Huafon Aluminium's shares rose 1% during the midday trade.

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