August 30 – V V Food and Beverage (600300) reported that its wholly controlled subsidiary will acquire Wuhai West Coalification Limited for 390 million yuan, reports Shanghai Securities Journal, citing a company filing. The target firm has registered capital of 200 million yuan and produces coke, coke powder and carbon.

Xuzhou-based V V Food and Beverage yielded 69.64 million yuan in operating profits on revenues of 124 million yuan from coal business with a gross profit margin of 56.15 percent during first half of 2011.

V V Food and Beverage (600300) shares traded at 6.19 yuan as of 11:27 this morning.

Source:capitalvue