CHINA: Liquidators to auction off leading chocolate producer
Coline Food Co., a foreign-owned company based in Shanghai, China, is to be auctioned off by liquidators on 7 March. The Malaysian-owned chocolate factory went out of business last October, despite being China's largest chocolate producer, with registered capital of US$24m. The liquidators will auction off assets worth some 300 million yuan (US$2.2m). The assets include land, factory buildings and two production lines.
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