China Opportunity Acquisition set for merger

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The China Opportunity acquisition Corp has teamed up with Golden Green Enterprises Limited to hammer out a definitive agreement between the two companies.

Golden Green Enterprises Limited and the China Opportunity acquisition Corp are to merge, it has been confirmed, with Golden Green being the sole surviving entity.

One of its subsidiaries, Henan Green Complex Materials (Ge Rui) - which is a leading Chinese private manufacturer of cold-rolled speciality steel products - will remain unaffected by the deal.

Confirming that Ge Rui's current management team will not be replaced, Harry Edelson, chairman of the board of China Opportunity, voiced optimism about the formalised merger.

"We are very pleased to announce the transaction with Ge Rui," Mr Edelson affirmed. "Ge Rui has emerged as one of the largest privately-owned cold-rolled specialty steel makers in China."

He added: "Specialty cold-rolled steel manufacturing is a highly attractive niche segment of the steel market in China, due to strong demand and given that only a few domestic manufacturers are capable of producing these high quality steel products."