Hebei Province-based Chinese pipe producer Xinxing Ductile Iron Pipes Co. (Xinxing Ductile Iron Pipes) has announced that it plans to transfer its 48 percent of stock equity in Xinjiang Autonomous Region-based company Xinjiang Kingtec Steel Co., Ltd to its major shareholders in order to optimize its asset structure.
In addition, Xinxing Ductile Iron Pipes plans to transfer 100 percent of equity in Xinjiang Autonomous Region-based Xinxing Ductile Iron Pipes Xinjiang Co., Ltd and 55 percent of equity in Xinjiang Autonomous Region-based Xinjiang Kingtec International Trading Co., Ltd to its major shareholders.