English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 31 January 2020, 11:30 HKT/SGT

Source: Cedar Holdings Group
China's Cedar Holdings to acquire UK's Stemcor

Guangzhou, China, Jan 31, 2020 - (ACN Newswire) - Cedar Holdings Group Co Ltd ("Cedar Holdings"), China's leading supplier of bulk commodities, and Stemcor Global Holdings Ltd ("Stemcor"), a leading global steel trading and distribution company, signed an agreement on January 21 at the World Economic Forum in Davos which will see Cedar Holdings purchase the entire share capital of Stemcor, subject to various approvals.

Cedar Holdings Group Co Ltd signs a share purchase agreement (SPA) with UK-based Stemcor Global Holdings Ltd on Jan. 21, 2020, at the World Economic Forum in Davos, Switzerland.

"Cedar Holdings is dedicated to building a world-leading bulk commodity group. Stemcor has a well-established global marketing network and system, which offers potential synergy with the existing domestic and international business of Cedar Holdings," said Han Gang, vice president of Cedar Holdings and president of Cedar Commodities Supply Chain Group.

"Supported by Cedar Holdings, Stemcor will be able to develop new business opportunities. The transaction is a win-win result where complementary benefits will emerge," he added.

Cedar Holdings, headquartered in Guangzhou, capital of South China's Guangdong Province, is actively expanding its global presence. It ranked 301st on the 2019 Fortune Global 500 with $40.6 billion in total revenue. https://www.cedarhd.com/en/

Stemcor, a privately-held UK-based company, is a global Top 3 independent steel trading company with business operations covering 30 countries and regions. Nearly 20 percent of its business comes from China's market. https://www.stemcor.com

Cedar Holdings Group
Contact: Xudafeng
Phone: +86 20-38911638
Email: media@cedarhd.com
Website: https://www.cedarhd.com/en/


Topic: Press release summary
Source: Cedar Holdings Group

Sectors: Metals & Mining
From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Latest Press Releases
HighTide Therapeutics Presents Analyses of a Phase 2 T2DM Study at the ADA Scientific Sessions, Highlighting Glycemic and Cardiometabolic Benefits of Berberine Ursodeoxycholate (HTD1801)  
June 21, 2024 18:30 HKT/SGT
AGAPE ATP Corporation Explores Energy-Saving Solutions with B&H Intec Solution  
June 21, 2024 17:00 HKT/SGT
TOYOTA GAZOO Racing fired up for summer of speed  
Friday, June 21, 2024 4:05:00 PM
NEXX officially introduces CK Asset Holdings Limited as a shareholder
June 21, 2024 16:00 HKT/SGT
Eisai Continues Contract for FY2024 Dementia Examination Project by Tokyo Bunkyo City  
Friday, June 21, 2024 2:35:00 PM
Wintermar Offshore (WINS:JK) Public Expose 2024  
June 21, 2024 14:00 HKT/SGT
Hong Kong's Construction Industry to Maintain Stable Growth in 2024  
June 21, 2024 14:00 HKT/SGT
Fujitsu Japan and Kobe City Waterworks Bureau jointly develop an AI-based drawing screening system for water supply system construction applications  
Friday, June 21, 2024 1:50:00 PM
SUMMER WEB3FEST 2024: A Resounding Success and a Glimpse into the Future  
June 21, 2024 10:00 HKT/SGT
Scotts Miracle-Gro (SMG) Investor Alert: Kaplan Fox & Kilsheimer LLP Encourages Investors to Contact the Firm in Scotts Securities Fraud Class Action  
June 20, 2024 20:32 HKT/SGT
More Press release >>
More events >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575