Avic sanxin to buy CSG quartz placer

November 10, Avic Sanxin (002163) and CSG A (000012) also issued a notice that China Airlines sanxin will buy Hainan Wenchang quartz placer 100%, the transaction price of 51.2241 million yuan.　　It is understood that China Airlines Sanxin wholly-owned subsidiary of Hainan Aviation Special Glass Materials Co., Ltd. on October 31, 2010 with the CSG group signed the "Equity transfer contract", by the Hainan Airlines in the 51.2241 million yuan to buy the South Glass group held in Hainan Wenchang South Glass quartz placer 100% equity. For the sale of assets, CSG A has its own interpretation. CSG group in the announcement that the Wenchang placer was established in December 1994, is the Hainan Province government in 1994, the key investment projects during the Sea Fair, mining license expired on January 29, 2009, but Hainan Province Department of Land and Environmental resources requirements of the company to invest in quartz sand deep-processing industry chain can be issued again. Because the company does not plan to make further large-scale deep processing industrial investment in Hainan, it is unable to deal with the renewal of mining permit, the mine is forced to stop production. In view of this, the CSG board agreed to sell Wenchang Placer 100% stake to AVIC Special glass.　　South Glass A added that at present the company and AVIC Special Glass signed a long-term supply contract, the amount of sand supply about 25% of the total amount of the company, supply prices in accordance with the changes in market prices to adjust accordingly Avic Sanxin introduced, Hainan Airlines in the special glass through the listing method, access to Hainan Province Wenchang Onten town 38.5 million tons of quartz placer mining rights, and with the Hainan Land and resources department signed the mining rights listed transfer agreement. In order to timely mining and to ensure that Hainan special glass production line, the raw material supply, the company purchased the South Glass Wenchang placer, in order to achieve timely resolution of the company Hainan Province Wenchang Weng Tian Zhen placer started production problems, so that Hainan Airlines special glass production line has sufficient quartz sand raw material protection. Avic Sanxin said at the same time, Hainan Airlines in accordance with the Hainan Province government silicon industry policy, will bid for the original South Glass Wenchang placer mining right to postpone the formalities.