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HONG KONG, May 10, 2010 - (ACN Newswire) - Suzhou QUAM-SND Venture Capital Enterprise, a RMB venture capital fund operated by foreign enterprise and is managed by Suzhou Gaohua Venture Investment Management Ltd ("Suzhou Gaohua"), participated in the placement of RMB50 million into Hangzhou Great East Packaging Company Limited ("Hangzhou Great East"), a major PET bottles manufacturers in China. Together with its affiliated companies, it has production plants in eight cities. The proceeds will be used for the expansion plan of Hangzhou Great East. Suzhou Gaohua is a private equity arm of Quam Limited (HK:0952).
Hangzhou Great East is a profitable enterprise with net assets of RMB340 million. It employs about 1,000 staffs in eight cities of China, including Hangzhou, Nanjing, Taizhou, Hefei, Xian, Dongguan, Dalian and Shenyang. Its major customers are Pepsi-Cola and Coca Cola in carbonated soft drinks (CSD) bottles and Purified Bottled Water.
Mr Wu You Ming, the Chairman of Suzhou Gaohua, said, "we are delighted to make an investment decision in three months given the solid and high quality corporate structure of Hangzhou Great East. Riding on the increasing demand of bottle drink around the globe, especially in China, we are confidence that Hangzhou Great East will experience strong growth in the coming few years. On the other hand, we are expected to add value on corporate governance and local connections to Hangzhou Great East. In all, we are optimistic that our investment in Hangzhou Great East will be a win-win situation to both parties."
About Suzhou Gaohua Venture Investment Management Ltd
Suzhou Gaohua Venture Investment Management Ltd is a joint venture enterprise established by Quam Limited (HK:0952) and Suzhou High-Tech Venture Capital Group Co. Ltd, a Suzhou state-owned enterprise. Suzhou Gaohua is responsible for searching and identifying potential projects, project liaison and company restructuring, as well as providing value-added services and monitoring for post-investment.
Contact:
Quam IR
Ms Anita Wan
Tel: +852-2217-2687
E-mail: anita.wan@quamgroup.com
Ms Sharon Au
Tel: +852-2217-2680
E-mail: sharon.au@quamgroup.com
Ms Venus Lam
Tel: +852-2217-2909
E-mail: venus.lam@quamgroup.com
Topic: Press release summary
Source: Quam Limited
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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