NHI ac­quires The Rob­bins Com­pany

China Daily (Canada) - - BUSINESS -

North­ern Heavy In­dus­tries Group fi­nal­ized a merger and ac­qui­si­tion deal with US-based The Rob­bins Com­pany on Tues­day in Shenyang, cap­i­tal of Liaon­ing prov­ince. The merger is ex­pected to sharpen State-owned NHI’s com­pet­i­tive edge and re­vive the man­u­fac­tur­ing sec­tor in the old in­dus­trial base in China’s north­east­ern rust belt. bor­row­ers based over­seas, and help Chi­nese com­pa­nies sell notes in the off­shore mar­ket, ac­cord­ing to Luo Guang, Golden Credit’s chair­man. owned units of the group, it said in a state­ment to the Shanghai Stock Ex­change. Ship­builders world­wide are seek­ing to raise funds af­ter post­ing losses as or­ders de­clined or were de­layed. Qi­hoo Chair­man Zhou Hongyi, is “con­tin­u­ing to work dili­gently” to­ward sat­is­fy­ing the re­main­ing deal con­di­tions, ac­cord­ing to a state­ment dis­trib­uted by PRNewswire on Tues­day.

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