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(Infocast News)Chiho-Tiande Group (00976) has entered into an investment  agreement with the Yantai Economic and Technological Development Zone Adminstration Committee for developing  and operating an integrated processing facility for recycling, processing and sales of imported mixed metal scrap in the Yantai Resource Recycling and Processing  Demonstration Zone in Yantai City,Shangdong Province.The project is expected to have an annual processing capacity of 500,000 tonnes.

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Source : InfocastFN.com

Provided by : Porda International

(Infocast News) Chiho-Tiande Group (00976) has entered into an investment  agreement with the Yantai Economic and Technological Development Zone Adminstration Committee for developing  and operating an integrated processing facility for recycling, processing and sales of imported mixed metal scrap in the Yantai Resource Recycling and Processing  Demonstration Zone in Yantai City,Shangdong Province.The project is expected to have an annual processing capacity of 500,000 tonnes.

Pursuant to the agreement,Chiho-Tiande Group will establish a wholly-owned subsidiary to acquire a project site in the economic and technological development zone and to operate the integrated processing facility. The committee will assist Chiho-Tiande Group in obtaining the relevant governmental approval for the establishment of the project company and in acquiring the project site.The total investment of  the integrated processing facility project is US$99.98 million (HK$780 million). 

[12 July 2010, Hong Kong] Chiho-Tiande Group Limited (“Chiho-Tiande” or the “Company”, together with its subsidiaries, the “Group”, stock code: 976), the largest importer of mixed metal scrap in the PRC, commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”) today.

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[12 July 2010, Hong Kong] Chiho-Tiande Group Limited (“Chiho-Tiande” or the “Company”, together with its subsidiaries, the “Group”, stock code: 976), the largest importer of mixed metal scrap in the PRC, commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”) today.

Shares of Chiho-Tiande were traded with an intra day high of HK$2.52 per share and closing at HK $2.39 per share. An aggregate turnover of approximately HK$59.24 million were traded and the Company has raised net proceeds of approximately HK$556.2 million from its Global Offering.

CCB International is the Sole Global Coordinator, Sole Bookrunner, Sole Lead Manager and Sole Sponsor of the Global Offering.

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[27 June 2010, Hong Kong] Chiho-Tiande Group Limited (“Chiho-Tiande” or the “Company”, together with its subsidiaries, the “Group”), the largest importer of mixed metal scrap in the PRC, today announced its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited “SEHK”).

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Raising Up to approximately HK$780 Million
The PRC’s Largest Importer of mixed metal scrap
Continue to Expand Processing Capacity and Procurement Network 

[27 June 2010, Hong Kong] Chiho-Tiande Group Limited (“Chiho-Tiande” or the “Company”, together with its subsidiaries, the “Group”), the largest importer of mixed metal scrap in the PRC, today announced its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited “SEHK”).

Chiho-Tiande plans to offer a total of 250,000,000 new Shares (subject to adjustment and the exercise of the Over-allotment Option), comprising an International Offering of 225,000,000 shares and a Hong Kong Public Offering of 25,000,000 shares, at an Offer Price range of HK$2.43 per Share and HK$3.13 per Share. The Offer Shares represent approximately 25% of the enlarged share capital of the Company immediately upon completion of the Global Offering. The Company will begin its Public Offering on 28 June 2010 at 9:00am (Monday) and close on 2 July 2010 at noon (Friday). Dealings in the Shares of the Company are expected to commence on 12 July 2010 (Monday). The Shares, with the stock code 976, will be traded in board lots of 2,000 each. The Over-allotment Option will be up to 37,500,000 additional new shares, representing 15% of the initial number of Offer Shares.

CCB International is the Sole Global Coordinator, Sole Bookrunner, Sole Lead Manager and Sole Sponsor of the Global Offering.

Chiho-Tiande is a mixed metal scrap recycler and processor and is also the largest importer of mixed metal scrap for recycling, reuse and processing in China, in terms of the total import and actual import volume of mixed metal scrap. The Group’s principal business comprises mixed metal scrap recycling, reuse and processing which involves breaking- down, demolition and separation of mixed metal scrap such as motor scrap and electric wire and cable scrap into their respective metal constituents, comprising mainly copper scrap, steel scrap, aluminum scrap and iron scrap (ie. the Recycled Metal products). These metal components will be refined and processed to metal materials for metallurgy, machinery and electrical and various industries usage which broadly used for our customers, including metallurgy processors, copper wire manufacturers, electrical appliance producers, raw material suppliers and smelters in China.

Chiho-Tiande specializes in recycling and processing of imported motor scrap. Due to the higher copper content of motor scrap, the Group can further increase the value of metal recycling product. The Group also engages in foundry business, which involves using recycled metal products in the production for sale of aluminum-alloy ingots and copper rods and wires. In addition, the Group involves in wholesale business to procure and on-sell other metal scrap procured by the Group to its customers without further processing.
Chiho-Tiande specializes in recycling and processing of imported motor scrap. Due to the higher copper content of motor scrap, the Group can further increase the value of metal recycling product. The Group also engages in foundry business, which involves using recycled metal products in the production for sale of aluminum-alloy ingots and copper rods and wires. In addition, the Group involves in wholesale business to procure and on-sell other metal scrap procured by the Group to its customers without further processing.
With the high entry barrier of China’s metal recycling business, enterprises must comply with stringent requirements and obtain all the required qualifications, permits and licenses in order to enter metal recycling industry. Chiho-Tiande has obtained Designated Processing Unit for mixed metal scrap and the Restricted Import Licenses and all required qualifications, approvals and licenses for operations.

Chiho-Tiande said,“The global demand for non-ferrous metals is on the rise. Given the limited resources of natural mineral, there are increasing signs that future supply will not be able to keep up with demand, generating a huge development opportunity to metal recycling industry. At present, developed countries have yet to develop a commercially viable processing line to separate all kinds of mixed metal scrap into their pure metal constituents. The efficiency of using machine to separate various metal scrap is lower than manual classification. With our extensive experience in metal recycling industry coupled with a well designed production process and greater availability of labor resources in China, we are able to achieve higher efficiency in processing of mixed metal scrap and ultimately turn it into single metal scrap for recycling to realize the aim of energy saving and environmental protection.”

The Group’s processing and production facilities are strategically located at the Taizhou Metals Recycling Park, Taizhou city, Zhejiang province, and Ningbo Metals Recycling Park. The annual recycling capacity of mixed metal scrap in 2009 was approximately 607,242 tonnes, while the designed annual production capacities of aluminum-alloy ingots and copper rods and wires are 60,000 tonnes and 20,000 tonnes respectively. Taizhou is known as the “Capital for Metals Recycling in China” and Taizhou Metals Recycling Park is one of the major metal recycling parks in China. The Group’s bases in Taizhou and Ningbo are well served by road networks connecting the Group to major cities in Yangtze Delta Region and its major customers, which enables the Group to promptly satisfy its customer’s need. At the same time, the Group also takes advantage of its close proximity to the ports nearby for import of raw materials in order to enjoy lower transportation costs. Besides, by importing most of the mixed metal scrap from abroad, the Group has developed a strong procurement network throughout Europe, North America, Oceania and Asia and has established strong business relationships with suppliers.