Trading in ECSI Limited (ASX:ECS) - a company involved in rolling out China's National Emergency Response program – has ceased while it prepares to enter a new market.
The company today announced it has entered into an agreement to acquire the Qitaihe coal coking facility in China, after due diligence.
The company plans to maintain its existing interests in China, separating its two business areas into unique units. One of these units may ultimately be floated separately, chairman Jim Green says.
ECSI has also proposed to acquire Alphacoal Limited for $2 million.
ECSI shares have been suspended under ASX rules regarding change of business activities, and will be required to meet reporting requirements if the transaction proceeds.
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