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2007-5-10 11:11:00 a.m. HKT, XFNA
Hong Kong-listed Huali Hldgs to sell Mission Hldgs for 9.92 mln hkd
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HONG KONG (XFN-ASIA) - Huali Holdings (Group) Ltd said it has agreed to
sell its 100 pct stake in Mission Holdings Services Ltd to an independent
third party for 9.92 mln hkd.
Mission Holdings holds an 85 pct stake in Mudanjiang Huali Packaging Co
Ltd, which is principally engaged in manufacturing cartons and other
packaging materials.
Huali said that Mudanjiang Huali is situated at a relatively remote
location in Heilongjiang province near the Russian border and that the
company is planning to centralize its operations in more
economically-developed cities - so it decided to sell Mission Holdings.
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