GANSU EC plans to acquire 100% equity of GANSU EC Coal Storage and Transportation Company
GANSU EC announced plans to acquire 100% equity of GANSU EC Coal Storage and Transportation Company, with an acquisition price of 102 million yuan. The storage and transportation company will become a wholly-owned subsidiary, mainly responsible for the construction and operation of the 1 million tons coal storage and distribution base in Jiuquan and Yumen. This acquisition will enhance the company's coal storage and transportation and supply capabilities, integrate the coal-electricity-chemical industry chain, and address issues of competition within the industry
According to the Zhitong Finance APP, GANSU EC (000552.SZ) announced that the company plans to acquire 100% equity of Gansu Coal Storage and Transportation Co., Ltd. (referred to as "Storage and Transportation Company") held by its related party Gansu Energy Chemical Trade Co., Ltd. (referred to as "Trade Company"). The Storage and Transportation Company will become a wholly-owned subsidiary of the company, with the acquisition price set at 102 million yuan.
The Storage and Transportation Company was established in September 2022 and is located in the New District Economic Development Zone of Yumen City, Jiuquan City, Gansu Province. It is mainly responsible for the construction and operation of a 1 million-ton coal storage and distribution base in Jiuquan Yumen, with a business scope that includes general cargo storage services, loading and unloading, coal washing and processing, coal product manufacturing, sales of coal and products, electronic weighing services, machinery and equipment leasing services, and transportation equipment leasing services.
Implementing this acquisition will enhance the company's coal storage and transportation and supply capabilities, streamline the coal-electricity-chemical industry chain, and resolve issues of competition within the same industry
