Vale's subsidiaries sued

Corun, a Shanghai-listed nickel processor and battery maker, is suing two units of Vale, one of the world's largest mining companies, in a patent infringement case.

Corun lodged a case with an intermediary court in its local jurisdiction in Hunan Province last month claiming nearly 90 million yuan in damages from two Chinese subsidiaries of Vale Inco, the wholly owned Canadian subsidiary of Vale.

The Financial Times reported that Vale Inco was planning to sell the two joint-venture subsidiaries, in which it holds majority stakes of more than 70 percent, and that Corun had expressed interest in purchasing one or both of them.

(Source: China Daily)

AFD China Newsletter is intended to provide our clients and friends information only. It should not constitute legal advice of AFD China or any of its attorneys, and AFD China will not be held responsible for any reliance on its contents.