Qinhuangdao Tianye Tolian Heavy Industry announces that Italy's SELI, in which the company has equities, has filed with the Italian court for bankruptcy protection as it fails to pay due debts.
The company believes that there are many possibilities and uncertainties in SELI's bankruptch protection.
Established with a registered capital of EUR 1.34 million in 1950, SELI is principally engaged in tunnel projects and TBM design, R&D, manufacture and sales.
Source:
http://www.sinocast.com/readbeatarticle.do?id=99979
