China Oriental Group to Establish Joint Venture Companies with ArcelorMittal

MT Newswires Live10-16

China Oriental Group (HKG:0581) and its substantial shareholder ArcelorMittal plans to create an upstream joint venture company to produce HRC substrates and other products, as well as a downstream joint venture company for NEMM products.

Each partner will own 50% of each of the JV companies upon their establishment, although the JVs will not become subsidiaries of the company, a Wednesday filing with the Hong Kong exchange said.

The iron ore and steel products company will engage its subsidiary, Jinxi, to supply slab products exclusively to the upstream JV to ensure a stable supply of raw materials for the production of HRC substrates.

The upstream JV will provide HRC substrates as the input materials for the manufacturing of NEMM products by the downstream JV.

Both parties will enter into a technology license agreement with the two JVs along with their respective subsidiaries, Jinxi and AAMS.

Price (HKD): $1.20, Change: $+0.010, Percent Change: +0.84%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2475935232?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-16 15:56","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2475935232","market":"us","top_or_hot":-1,"title":"China Oriental Group to Establish Joint Venture Companies with ArcelorMittal","media":"MT Newswires Live","content":"<html><body><p> China Oriental Group (HKG:0581) and its substantial shareholder ArcelorMittal plans to create an upstream joint venture company to produce HRC substrates and other products, as well as a downstream joint venture company for NEMM products.</p><p>Each partner will own 50% of each of the JV companies upon their establishment, although the JVs will not become subsidiaries of the company, a Wednesday filing with the Hong Kong exchange said.</p><p>The iron ore and steel products company will engage its subsidiary, Jinxi, to supply slab products exclusively to the upstream JV to ensure a stable supply of raw materials for the production of HRC substrates.</p><p>The upstream JV will provide HRC substrates as the input materials for the manufacturing of NEMM products by the downstream JV.</p><p>Both parties will enter into a technology license agreement with the two JVs along with their respective subsidiaries, Jinxi and AAMS.</p><p>Price (HKD): $1.20, Change: $+0.010, Percent Change: +0.84%</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Oriental Group to Establish Joint Venture Companies with ArcelorMittal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Oriental Group to Establish Joint Venture Companies with ArcelorMittal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-16 15:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China Oriental Group (HKG:0581) and its substantial shareholder ArcelorMittal plans to create an upstream joint venture company to produce HRC substrates and other products, as well as a downstream ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HKD","symbol_name":"尚乘数科","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2475935232","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475935232","pubTimestamp":1729065394,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"China Oriental Group  and its substantial shareholder ArcelorMittal plans to create an upstream joint venture company to produce HRC substrates and other products, as well as a downstream joint venture company for NEMM products.Each partner will own 50% of each of the JV companies upon their establishment, although the JVs will not become subsidiaries of the company, a Wednesday filing with the Hong Kong exchange said.The iron ore and steel products company will engage its subsidiary, Jinxi, to supply slab products exclusively to the upstream JV to ensure a stable supply of raw materials for the production of HRC substrates.The upstream JV will provide HRC substrates as the input materials for the manufacturing of NEMM products by the downstream JV.Both parties will enter into a technology license agreement with the two JVs along with their respective subsidiaries, Jinxi and AAMS.Price : $1.20, Change: $+0.010, Percent Change: +0.84%","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HKD":"尚乘数科","AMSYF":"ArcelorMittal","JYNT":"The Joint Corp.","BK4526":"热门中概股","BK1594":"碳中和概念股","BK4585":"ETF&股票定投概念","BK4185":"保健护理机构","BK4006":"钢铁","BK1225":"钢铁","BK4588":"碎股","BK4023":"应用软件","00581":"中国东方集团"},"translate_title":"中国东方集团将与安赛乐米塔尔成立合资公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMSYF":1,"HKD":1,"JYNT":1,"00581":0.9},"content_text":"China Oriental Group (HKG:0581) and its substantial shareholder ArcelorMittal plans to create an upstream joint venture company to produce HRC substrates and other products, as well as a downstream joint venture company for NEMM products.Each partner will own 50% of each of the JV companies upon their establishment, although the JVs will not become subsidiaries of the company, a Wednesday filing with the Hong Kong exchange said.The iron ore and steel products company will engage its subsidiary, Jinxi, to supply slab products exclusively to the upstream JV to ensure a stable supply of raw materials for the production of HRC substrates.The upstream JV will provide HRC substrates as the input materials for the manufacturing of NEMM products by the downstream JV.Both parties will enter into a technology license agreement with the two JVs along with their respective subsidiaries, Jinxi and AAMS.Price (HKD): $1.20, Change: $+0.010, Percent Change: +0.84%","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2475935232"}