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15:14 Dec 08 2009

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Tibet Galaxy company buys shares of Tibet Yuanzheng Packaging
15:14, December 08, 2009  

Tibet Galaxy Science and Technology Development Co.,Ltd. signed a preliminary agreement with Tibet Yuanzheng Group to become a shareholder of its subsidiary company - Tibet Yuanzheng Packaging Co. Ltd. for a win-win strategic cooperation.

In accordance with the agreement, all the packaging business of Tibet Galaxy Science and Technology Development Company and its subsidiary companies will be provided by Tibet Yuanzheng Packageing Co., Ltd., Tibet Daily reported.

Among the subsidiary companies are Tibet Lhasa Beer Co., Ltd., 5100 Tibet Glacier Mineral Water Co., Ltd., and a new barley beer company with an annual production capacity of 20 tons in Lhasa's High-tech Development Zone.

Founded in May of 2000, Tibet Yuanzheng Group is a major enterprise with an industrial chain of paper-making, printing and packaging businesses. The Tibet Yuanzheng Packaging Co.,Ltd. affiliated with it is the biggest manufacturer of paper packaging materials in Tibet Autonomous Region, taking up 90 percent of the region's market share.

Tibet Galaxy Science and Technology Development Co.,Ltd., established on June 20, 1997, is a listed company which focuses on production and sales of beer and other kinds of beverages. Its products are popular at home and abroad.

The packaging deals in 2010 between the two partners are projected to top 100 million yuan(15 million U.S. dollars).

Source: Xinhuanet

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