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Terra Nostra increases JV ownership
Release time:
2007-6-14 10:11:48
Visit frequency:
249
Copper CatalogTerra Nostra Resources Corp. has announced that it has entered into an Equity Transfer Agreement with its Chinese Joint Venture partner whereby Terra Nostra can increase its ownership position to a maximum of 90% in both the copper and stainless steel joint venture companies. Presently, the Company owns a 51% interest in two Chinese Joint Venture companies in the strategic copper and stainless steel industries; Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd and Shandong Quanxin Stainless Steel Co. Ltd. The Agreement calls for an increase in ownership of both Joint Ventures to an additional 19% initially, followed by a further 20% position, resulting in a 90% ownership position in both joint venture companies by Terra Nostra
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