English
English
China middling coal Energy Group Corporation, the second largest coal enterprise in China (referred to as middling coal Group for short), recently signed a contract with Shaanxi Coal Chemical Industry Group to participate in Xi'an Coal Mining Machinery Co., Ltd., the second largest coal mining machinery plant in China under Shaanxi Coal Chemical Industry Group, with 245 million yuan.
According to the contract signed by both parties, middling coal Group will hold 50% shares of Xi'an Coal Mining Machinery Co., Ltd. after injecting 245 million yuan.
Xi'an Coal Mining Machinery Co., Ltd. is one of the eight major coal mining machinery factories under the former Ministry of Coal of China. It is a large backbone enterprise in the design and manufacturing of coal mining machines in China, and also the only coal mining machine export base in China. Currently, it ranks second in terms of output value among coal mining machinery factories in China.
Middling coal Group is a key state-owned backbone enterprise managed by the State owned Assets Supervision and Administration Commission of the State Council. In 2007, its coal output exceeded 100 million tons, ranking second among the national coal industry enterprises. With this participation in Xi'an Coal Mining Machinery Co., Ltd., middling coal Group can extend and improve the industrial chain with coal as the core to improve its international competitiveness.
