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China Env Res (01130) may buy stake in metal recycle firm
China Environmental Resources (01130) said it entered into memorandum of understanding
in relation to the proposed subscription for 70% of the enlarged issued share capital
of a company.
A refundable deposit in the amount of HK$5 million has been paid by China Environmental
Resources.
 The issuer together with its related companies are principally engaged in metal recycle
business in Hong Kong and the PRC and are in the course of acquiring several related
businesses for horizontal/vertical expansion.

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