US based Terra Nostra Resources Corp has announced the company has entered into an Equity Transfer Agreement with it's Chinese Joint Venture.

The agreement with its partner will allow Terra Nostra to increase its ownership position in Shandong Quanxin Stainless Ltd (SQSS).

The stock sharing holding will be increased from 51 percent to 90 percent. The company estimates its income will be increased greatly due to the increase of the investment.

"As a result of Terra Nostra's increased ownership, we expect to see a very substantial increase in earnings per share due to the increase of Terra Nostra's percentage of net profits and the ramp up of production to optimal levels at the various plants", said Terra Nostra's CEO.

This action will make Nostra to position itself to benefit form both copper and stainless steel from major growth sectors in China, said the company.