Fujian Nanping Sun Cable (SHE:002300) partnered with Hangzhou High-tech Materials Technology, a polymer rubber and plastic manufacturer, to establish a 30 million yuan joint venture, according to a March 7 filing with the Shenzhen bourse.
The venture, Fujian Nanping Sun High-tech Cable Materials, will produce plastic products.
The Chinese wire producer will own 49% of the venture after investing 14.7 million yuan into its capital, while Hangzhou High-tech Materials will own 51% after injecting 15.3 million yuan.
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