Hengyi Petrochemical (SHE:000703) subsidiary Haining Hengyi New Materials will construct a waste textile recycling facility in Haining, Zhejiang, China, for about 687 million yuan, according to a Tuesday filing with the Shenzhen Stock Exchange.
The project will have a capacity of 300,000 tons per year of recycled textiles and 100,000 tons per year of glucose through waste textile cellulose as raw material.
Shares fell 1% during afternoon trading on Tuesaday.
Guolian Securities (SHA:601456, HKG:1456) is looking to buy back between 100 million yuan and 200 million yuan of shares, according to a Tuesday filing with the Shanghai bourse.The securities company could buy between 7.7 million and 15.4 million shares at 13 yuan apiece.The share repurchase will help protect the company's value and shareholder rights, Guolian said in its filing.
CP Axtra (BKK:CPAXT) reported a profit attributable to owners of 1.87 billion baht in the second quarter, down from 2.29 billion baht a year earlier.Earnings per share were 0.18 baht, compared with 0.22 baht in the year-ago period, according to an Aug. 7 Thailand Exchange filing.Total revenue rose to 132.3 billion baht from 129.1 billion baht previously.
(Updates to add stock movement in the headline and the last paragraph)Australian shipbuilder Austal (ASX:ASB) received a non-binding, conditional proposal from a unit of South Korea's Hanwha Group to acquire its U.S. operations for an indicative enterprise value of up to $1.20 billion.Hanwha Defence USA has offered $1.05 billion to $1.20 billion for the relevant Austal USA entities and operations, according to a Tuesday press release.The proposed deal would cover 100% of the relevant Austal US entities but exclude Austal's publicly traded shares and its core Australasia operations in Australia, the Philippines, and Vietnam.The offer is subject to due diligence, regulatory approvals, and agreement on definitive transaction terms.Austal's board has approved a four-week due diligence period for Hanwha to review the US business and engage with key government and other counterparties.The proposal does not include a financing condition, the statement said.Austal's shares jumped around 19% in recent Tuesday trade.