Beijing Lirr to acquire 20% stake in refractory joint venture
2024-11-26 15:13:02 [Print]
On November 22, Beijing Lirr High-Temperature Materials Co., Ltd. reached an agreement with Inner Mongolia Baotou Steel Union Co., Ltd. to acquire a 20% stake in their joint venture Inner Mongolia Baotou Steel Lier High Temperature Material Co., Ltd., which is mainly engaged in the development, production and sales of refractory materials and metallurgical auxiliary materials.
Under the agreement, Beijing Lirr will be in charge of the management and operation of Baotou Steel Lier from November 30, 2024. Upon completion of the equity transfer in cash, Beijing Lirr will hold a total of 70% stake in Baotou Steel Lier, which will become a majority-owned subsidiary of Beijing Lirr.
Under the agreement, Beijing Lirr will be in charge of the management and operation of Baotou Steel Lier from November 30, 2024. Upon completion of the equity transfer in cash, Beijing Lirr will hold a total of 70% stake in Baotou Steel Lier, which will become a majority-owned subsidiary of Beijing Lirr.
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