Camel Group to set up a joint venture on waste battery recycling
2017-06-30 17:35:58 [Print]
On June 28, Camel Group (601311) announced that it has signed a cooperation agreement with Jia Lei on setting up a joint venture Camel Group Anhui Recycled Resources Co., Ltd., which will mainly focus upon recycling of waste battery. The new company will have a total registration capital of RMB50 million, to which Camel Group will contribute RMB35 million and Jia Lei RMB15 million.
Anhui is the biggest province in China in terms of secondary lead production and has an important position in the industry. To be built in Taihe county, Anhui, the joint venture will enjoy favorable geographical advantages of the county as well as supporting policies by local government, enabling it to grasp latest industrial developments and market information. The both sides will work hard together, striving to put the new company into operation within 14 months after the agreement signed. The new company is expected to have an annual capacity of 260,000t of refined lead.
Anhui is the biggest province in China in terms of secondary lead production and has an important position in the industry. To be built in Taihe county, Anhui, the joint venture will enjoy favorable geographical advantages of the county as well as supporting policies by local government, enabling it to grasp latest industrial developments and market information. The both sides will work hard together, striving to put the new company into operation within 14 months after the agreement signed. The new company is expected to have an annual capacity of 260,000t of refined lead.
Lead Ingot Secondary 98%min EXW China
Unit:RMB/mt
China primary lead producers' suspension number statistics by province by month
Unit: pcs
