CHANGCHAI CO.,LTD: The People's Government of Xinbei District, Changzhou City will implement expropriation of the company's foundry buildings
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CHANGCHAI CO.,LTD announced that the People's Government of Xinbei District, Changzhou City has decided to expropriate the company's foundry building due to the need for public interest in the reconstruction of the old city area. The expropriation area is 76,179.89 square meters, involving the company's original foundry base, which has now been transferred to a wholly-owned subsidiary. It is expected that there will be no significant impact on production and operations. The specific compensation amount will be determined after the agreement is signed
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