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Fuyao Group offers guarantees for its subsidiaries

Post Time:Sep 16,2008Classify:Company NewsView:391

According to Fuyao Group, its wholly owned subsidiaries, including Fuyao Hainan Float Glass Co., Ltd. and Fuyao Group Shuangliao Co., Ltd., have respectively applied for the comprehensive credit line of 10 million USD and 4.5 million USD from Citibank Guangzhou Branch, and Fuyao Group agreed to offer joint liability assures for them as well as for Beijing Futong Safety Glass Co., Ltd., another wholly owned subsidiary.

Up to August 31, 2008, Fuyao Group has offered joint liability assures of 1.01 billion yuan for its directly or indirectly 100% owned subsidiaries.

Source: GlassInChinaAuthor: shangyi

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