Asian Activities Report for December 21, 2011: Shandong Zhongrun (SHE:000506) to Invest in Canadian Zinc Corporation (TSE:CZN)
Sydney, Australia (ABN Newswire) - Shandong Zhongrun Investment Holding Group Co. Ltd (SHE:000506) says today that its wholly-owned subsidiary Zhongrun International Mining Co. Ltd has signed a private placement agreement with Canadian Zinc Corporation (TSE:CZN), whereby Zhongrun International Mining will acquire 22.50 million shares and options in Canadian Zinc Corporation for a total consideration of C$16.80 million. The placement agreement will allow Shandong Zhongrun to participate in Canadian Zinc Corporation's Prairie Creek project, a partially developed mine with an existing 1,000 tonne per day mill and related infrastructure.
Toray Industries, Inc. (TYO:3402) has developed four new home water purifier products specifically for the Chinese market. The products can eliminate 99.99% residual chlorine, turbidity, rust, general bacteria and other micro-contamination to significantly improve water quality. Product sales will kick off in Beijing, Shanghai and Guangzhou in late December 2011.
Hitachi Chemical Co., Ltd. (TYO:4217) has decided to form a new company, named Hitachi Chemical Electronic Materials (Taiwan) Co., Ltd. in Taiwan, with an investment of 2 billion yen. Production is planned to commence in April 2013, with an aim to boost the Company's current capacity for producing chemical mechanical planarization by 50% by financial year 2015.
NTT Data (TYO:9613) has signed an agreement with Korean IT giant LG CNS regarding data centre cooperation. According to the agreement, both parties will work together to create new IT solutions and develop data centres in Japan and Korea. They will also organise promotion activities together to explore new data centre market.
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