 2013-11-11 |
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Economic Daily News
Reporter: Zhou Yilong / Taipei
On November 11, YC (4306) held a press conference announcing the sale of its packaging division to its subsidiary, Xinzhou Global, for no less than 396 million yuan. This move is intended to enhance vertical integration within the company, with expected benefits to be realized in the first quarter of next year.
During the press conference at the Taiwan Stock Exchange, YC Group's President Li Zhixian's eldest son, Li Shuwei, addressed the media for the first time. Li Shuwei, who is currently the General Manager of Wangzhou Construction and a spokesperson for YC, stated that YC will be positioned as a mid-stream manufacturing company within the group. To simplify operations, the decision was made to sell the packaging division, which deals with sales and logistics, to Xinzhou Global, the subsidiary responsible for logistics and distribution.
Looking ahead, YC noted that its production bases, which include locations in Taiwan, China, and Vietnam, have expanded this year. Notably, ACHEM has added 85 million square meters of polypropylene film production capacity in Vietnam. |
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