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Milkyway Chemical to Invest 7 Million Yuan to Set Up Freight Forwarding Joint Venture

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Milkyway Chemical Supply Chain Service (SHA:603713), through unit Shanghai Chemical Products Automobile Transportation, proposed to invest 7 million yuan to establish a joint venture, according to a Friday disclosure on the Shanghai bourse.

The Chinese chemical supply chain company partnered with a director, Hua Yi, to set up Shanghai Huayun Yihui Supply Chain Management.

Huayun Yihui, which will have a registered capital of 10 million yuan, will offer international and domestic freight forwarding services.

The company will own 70% of the venture, while Hua will hold 30%.

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