L & L Energy, Inc. (Nasdaq: LLEN) ("L & L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, yesterday announced that the Company has signed a Memorandum of Understanding ("MOU") with Tianjin Fuhao Industrial Co. Ltd to explore strategic opportunities to expand and enhance the value of both companies globally. ("Tianjin Fuhao") Tianjin Fuhao is a major coal wholesaler and logistics company in Tianjin City and Province, People's Republic of China.
Tianjin Fuhao is a fully owned subsidiary of Tianjin Materials and Equipment Co., which has large operations in coal, steel, electricity, minerals, and modern logistics. Tianjin Materials and Equipment ranks 57th among China's Top 500 Enterprises and their large presence in Bo Hai Bay, a critical consolidation point for the majority of China's coal, has helped establish them as the largest import-export wholesaler in China. Tianjin Materials and Equipment Co. recorded recent revenues in excess of $US 16 billion.Â
L & L's Chairman and CEO, Dickson Lee, commented, "A strategic partnership between L & L and Tianjin Fuhao is a win-win for both companies. L & L has a strong foothold and track record in the southwest China coal industry and Tianjin Fuhao is a leader in coal logistics and infrastructure in the critical Bo Hai Bay region in China's north. Both parties see tremendous synergies within China, especially with the accelerated consolidation in Guizhou, as well as in the joint exploration of international energy markets, particularly across the Pacific."
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