Oriental zirconium industry 120 million acquisition of sea-brocade zirconium assets

Oriental zirconium industry announced today, the company recently and Chaoyang Parkson Zirconium Titanium Co., Ltd. (hereinafter referred to as "Chaoyang Parkson") to achieve the acquisition of Chaoyang Parkson owned sponge zirconium related assets and business cooperation intention, the two sides signed the "Cooperation intention agreement" on June 29, 2010. Announced that the company intends to acquire Chaoyang Parkson owned sponge zirconium related assets and business.　　The assets mainly include the stocks, fixed assets, intangible assets, patents and proprietary technology of the Sun Parkson.　　In principle, this transaction price is 120 million yuan, the transfer price to sponge zirconium related assets and business evaluation value for reference, the specific price of the formal purchase contract, agreement prevail. Chaoyang Parkson is located in Liaoning Province Chaoyang County, covers an area of 330,000 square meters, with an annual output of 10000 tons of sponge titanium, titanium tetrachloride 30000 tons, refined zirconium tetrachloride 3000 tons, industrial grade sponge zirconium 600 tons and nuclear grade sponge zirconium 150 tons of production scale.　　Chaoyang Parkson is the largest sponge zirconium and the second largest sponge titanium production enterprises, with the current China has been built only a nuclear-grade sponge zirconium production line. The company said that the acquisition in line with the company's development strategy, conducive to the improvement of the company's industrial chain, conducive to the company sustainable development. The acquisition of funds mainly from the company's own funds and bank loans.