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Reliance Global Holdings Limited ( (HK:0723) ) has provided an announcement.
Reliance Global Holdings Limited has announced that its indirect wholly owned subsidiary, Trans Resources International Limited, has entered into a cooperation agreement with Shanghai-listed Guangxi Fenglin Wood Industry Group to jointly develop the European Union market for wood board and related products. Under the deal, Trans Resources and its affiliated companies become Guangxi Fenglin’s regional distributor for wood board products in Romania, Serbia, Croatia, Germany, France and Italy, with the agreement initially running for one year and automatically renewable. The partnership aims to build an efficient EU sales and service network, integrate supply chains and potentially establish a joint-venture factory, which the board believes will strengthen Reliance Global’s timber supply chain business, generate additional revenue, create synergies with existing operations and expand its presence in the EU, thereby benefiting the company and its shareholders overall.
More about Reliance Global Holdings Limited
Reliance Global Holdings Limited, incorporated in Bermuda and listed in Hong Kong, operates through subsidiaries including Trans Resources International Limited and is developing a timber supply chain business with a growing focus on the European Union market for wood board and related products.
Average Trading Volume: 10,501,142
Technical Sentiment Signal: Sell
Current Market Cap: HK$251.6M
For a thorough assessment of 0723 stock, go to TipRanks’ Stock Analysis page.