NEW YORK, Feb. 8, 2016 /PRNewswire/ -- Gerald Holdings LLC ("Gerald"), a member of Gerald Group, and Pengxin International Mining Co., Ltd. ("Pengxin"), entered into a Strategic Partnership Agreement ("Agreement") in Shanghai on January 28, 2016, whereby Pengxin will become a strategic investor and partner with Gerald. The Agreement provides that both groups will immediately cooperate on various initiatives in the commodity resource sector, and ultimately Pengxin will inject equity into Gerald to form a strategic partnership. The partnership and additional equity base will provide Gerald access to additional capital allowing both Gerald and Pengxin to achieve their strategic objective of substantial growth in the commodity trading and resource sectors.
This partnership will create the ability for Gerald and Pengxin to immediately capitalize on substantial market opportunities due to the unprecedented commodity price declines. The combination of Gerald's international market expertise and global platform with Pengxin's technical resources and diversified capital base will provide a competitive edge.
"We look forward to our strategic relationship with Pengxin as we believe that the new partnership will be the right recipe to capitalize on the current market dynamics," notes Craig Dean, CEO and President of Gerald Group.
About Gerald Group
Gerald is one of the world's leading commodity trading companies with a turnover in excess of US$10 billion. The company is headquartered in Stamford CT, USA and has a global presence from South America, Europe, Africa to Asia with regional hub offices in Stamford, Singapore, Shanghai, and Switzerland.
About Pengxin International Mining Co., Ltd.
Pengxin is a listed company on Shanghai Stock Exchange that trades under the symbol 600490.SS. Pengxin operates as a mining exploration company which acquires, explores, and develops mineral properties, primarily related to copper and cobalt.
SOURCE Gerald Group