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Fuyoao Glass Corporation to sell its Hainan subsidiary

Post Time:Apr 20,2009Classify:Company NewsView:323

Fuyao Glass Corporation announced that the company planed to sell its wholly owned Fuyao Hainan Float Glass Co., Ltd. to Hainan China Aviation Special Glass Material Co., Ltd. The total assets, including permanent assets and intangible assets in the financial report up to March 31, 2009, are priced at 450 million yuan after negotiation.

Fuyao Hainan will make the impairment provision of asset at 226,805,100 yuan.

Source: GlassInChinaAuthor: shangyi

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