Parent company of Shandong Tianyuan Copper begins bankruptcy proceedings

China’s Shandong-based Tianyuan Copper will undergo restructuring as its parent company Shandong Tianxin Group begins bankruptcy proceedings, according to a statement released by the Dongying Intermediate People’s court on Tuesday February 7.

Bankruptcy proceedings for Tianxin Group have already begun with around five to ten institutions been shortlisted as potential candidates to oversee the administration of the bankruptcy case, the statement added. Founded in 1998, Tianxin Group has a presence in such industries as textile, photovoltaic, copper processing and real estate. Tianyuan Copper is the company’s subsidiary in charge of its copper processing business. Tianyuan Copper, based in the Chinese city of Dongying, was established in 2008...

Published

Kiki Kang

February 08, 2017

09:35 GMT

Shanghai