China Treasure confirms negotiations in progress to acquire telecommunications company for China Play.NEW YORK--(BUSINESS WIRE)--Aug. 31, 1995--China Treasure Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap:CHNA CHNA Community Health Network Area CHNA Community Health Needs Assessment CHNA Canadian Holistic Nurses Association CHNA College Hill Neighborhood Association CHNA Castleberry Hill Neighborhood Association CHNA Converium Holdings North America ) confirmed the Reuter's Aug. 25 report that negotiations are in progress to acquire a PRC-based telecommunications company See telecom company. . Clement Mak, chairman of the company, who is currently in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of meeting with investment bankers, said: "I can confirm that we are in negotiations to acquire a PRC telecommunications company. We see this as our entrance into the huge China telecommunications industry. It is part of our long range plan to seek and acquire strategic PRC infrastructure companies like our recent acquisition of controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Chengdu Iron and Steel." Clement Mak is a well-known Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. industrialist with a successful background in telephone manufacturing. Mak established the Soundie Electronics Co., set up the Lambda Telecommunications Co. and founded the Bondwell Electronics Co. in 1979. By 1982, Bondwell's telephone production plant in Hong Kong totalled 80,000 square feet of floor space with more than 1,000 workers. Bondwell then was relocated to Shajing, Bao An County, PRC, in 1982, making Mak one of the first Hong Kong industrialists to launch a production program in China. China Treasure Inc. is a real estate, infrastructure and industrial development company involved in the construction of Sun City, a planned development community in Guangdong Province of the Peoples Republic of China. The company recently acquired the controlling interest in the Chengdu Iron and Steel plant. For more information call Thomas Tedrow at 801/972-2887 or 407/645-0207. CONTACT: Thomas Tedrow, 801/972-2887 or 407/645-0207 |
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