July 8, 2020 / 3:35 PM / a month ago

BRIEF-Chigo Holding Says On June 24, Entered Cooperation Agreement With Foshan Developer

July 8 (Reuters) - Chigo Holding Ltd:

* CO ON 24 JUNE ENTERED INTO A COOPERATION AGREEMENT WITH FOSHAN DEVELOPER

* CASH COMPENSATION OF RMB1.21 BILLION TO BE PAID BY FOSHAN DEVELOPER TO GROUP

* COOPERATION AGREEMENT REGARDING LAND REDEVELOPMENT PROPOSAL IN LISHUI TOWN, FOSHAN CITY

* RMB400 MILLION TO BE USED TO BUY & INSTALL PRODUCTION EQUIPMENT AT NEW FACILITIES TO ENHANCE AUTOMATION PROCESS OF PRODUCTION

* PRODUCTION IN JIUJIANG TO CONTINUE TO OPERATE WHEN RELOCATION OF PRODUCTION BASE FROM EXISTING TO NEW FACILITIES TAKES PLACE Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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