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MID China Composite Company Ltd. acquisition of Tianjin Shenghua International Trading Company Limited was obtained initial approval by the Tianjin Port Free Trade Zone Management Committee last month.
According to the relevant laws, regulations, Tianjin Shenghua International claims, debt will be inherited by MID China Composite. The creditors of the company may require to pay off the debts or to provide a corresponding guarantee within 45 days.
If the creditors of the company fail to exercise these rights within the prescribed time limit, the company merger will be conducted according to legal procedure.
About MID Chine Composite:
MID China Composite is a subsidiary of MID American Supply Corporation. It has a long history of providing advanced composite materials, technical support and services to customers in Aerospace and Wind Power industries.
Original language Chinese