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Northern Heavy Industries (Northern Shares) announced it will buy a 0.1% stake in joint venture Northern Mining from Bucyrus Mining China LLC for about 157,800 yuan, increasing its ownership to 50.1% and gaining control. The remaining 49.9% will be sold to Beijing Baolizhixing Technology.
Bucyrus Mining China LLC plans to sell its 50% stake in Terex North Mining Machinery Co., Ltd. to Liaoning Liaoan Engineering Machinery Co., Ltd. for approximately RMB 74.4 million. Northern Heavy Industries (Beifang Co.) waived its preemptive right.