Fasing with €30 mln investment deal in Vietnam

WSE-listed chains producer Fasing has signed a preliminary investment deal with Vietnamese Tien Lam to set up a local facility worth €30 million, the company said in a market filing. “The parties intend to set up a joint stock company in an industrial complex in My An, Bac Giang Province,” the company said. The new entity will be manufacturing chains, mining machinery, and tools. “The parties agreed in the agreement that the details of mutual cooperation, including the preparation of legal documents necessary to register the company with the participation of the parties will take place by June 30, 2018,” Fasing said, adding that one of the conditions for the deal to go through is securing financing from the Vietnamese National Bank.