Ningbo Fu Bang Tranfer Parts Aluminium Asset

Ningbo Fubang Fu Bang plans to transfer part of shares of its aluminium branch, which includes the branch's buildings and lands. The company said, this move will be helpful to leaner body for swifter decision making, and to ensure that the company continues to maintain optimum capacity to reach the highest levels of operational efficiency.

Oct 10, the company released a post, announcing the company will sign the asset transfer agreement with the one of its shareholders, Ningbo Fu Bang Group Joint Stock Co.,Ltd. The asset valued at 44.1million yuan, which covered the buildings and lands.

About the company

Ningbo Fu Bang Group Joint Stock Co.,Ltd is a company established in 1993 approved by Ningbo System Reform Regulation No.26(1992)from Ningbo Economic System Reform Office by the method of directed placement. The company stock is listed on Shanghai Security Exchange in 11 Nov 1996.

The company mainly deals in: non-ferrous metal composite materials, new type alloy materials, aluminum and aluminum alloy plates, belts, foils, aluminum section materials and product manufacture and machining etc. By the end of Dec 2004, total assets reaches RMB 500 million, annual sale for aluminum materials is 31.5 thousand tons. The main operation business income is RMB458.5459 million with RMB20.2568 million net profits.

The company is one of the biggest company in east of China engaged in the professional machining and plating of industrial aluminum, aluminum alloy plates, belts and aluminum section materials and has a leading position in the industry of aluminum plating in Zhejiang.

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