Thursday 2011-06-16  16:25 Publisher: CapitalVue
June 16 -- Shandong Helon (000677.SZ), a maker of yarn and fibers, signed contracts with Shandong Chenming Paper Holdings (000488, 1812.HK) and two subsidiaries of Chenming for the sale of 4,475.503 tons of softwood pulp for 28.9 million yuan, reports Shanghai Securities News, citing a company filing.

Helon will meanwhile buy 2,746.72 tons of hardwood pulp from Chenming and its subsidiaries for 15.47 million yuan.

The deals are based on spot prices and will not harm the interests of Helon and its shareholders.

The deals constitute related-party transactions.