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Xinyi Glass Plans to Spin Off Solar-Glass Unit in Hong Kong

Post Time:Sep 25,2013Classify:Industry NewsView:65

Xinyi Glass Holdings Ltd. (868), a Chinese maker of glass products for cars and home appliances, said it revived a plan to spin off its solar-glass business and list the unit in Hong Kong.  

Xinyi Glass will distribute 70 percent of its holdings in Xinyi Solar Holdings Ltd. to shareholders, and retain the remaining stake, it said in a statement to the Hong Kong stock exchange today.

The spinoff plan takes place amid a trade dispute between the U.S. and China over solar equipment, with both countries imposing duties on imports. In 2011, Xinyi postponed a plan to sell shares of its solar-glass business as global equity markets plunged because of the debt crisis in Europe.

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Source: http://www.glassonweb.com/news/index/20232/Author:

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