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Company

Chinese company purchases American assets to produce copper pipes

October 11, 2018


Abstract : A Chinese company purchased assets in Texas, U.S., as well as related rights to build a production line of copper pipes.

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BEIJING, Oct. 11 (Xinhua) -- Zhejiang Hailiang Co., Ltd. (002203.SZ) entered into an agreement with Five Star Properties Sealy, LLC on Tuesday, to purchase a piece of land from the latter in Texas, U.S., as well as related rights for 45 million U.S. dollars.

According to the agreement, the purchased land and plants will be used to build a production line of copper pipes, and the products mainly include air conditioning pipes for refrigeration, water pipes, copper pancake coils and insulation pipes. (Edited by Li Wenxin, Yang Qi, [email protected])

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