Anhui Jiangnan Chemical Industry Co.,Ltd. completed the acquisition of Shaanxi North Civil Explosives Group Co., Ltd. from North Special Energy Group Co., Ltd., Ordnance Industry Equity Investment Co., Ltd. and Xi'an Qinghua Investment Co., Ltd.
April 05, 2023
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Anhui Jiangnan Chemical Industry Co.,Ltd. (SZSE:002226) agreed to acquire Shaanxi North Civil Explosives Group Co., Ltd. from North Special Energy Group Co., Ltd., Ordnance Industry Equity Investment (Tianjin) Co., Ltd. and Xi'an Qinghua Investment Co., Ltd. for CNY 544 million on March 13, 2023. As of September 30, 2022, Shaanxi North Civil Explosives Group Co., Ltd reported total assets of CNY 378.7734 million and net assets of 221.8219 million. Anhui Jiangnan Chemical Industry board of directors has approved the transaction. This transaction has been approved by China Ordnance Industry Group, and does not require the approval of the State-owned Assets Supervision and Administration Commission of the State Council.
Anhui Jiangnan Chemical Industry Co.,Ltd. (SZSE:002226) completed the acquisition of Shaanxi North Civil Explosives Group Co., Ltd. from North Special Energy Group Co., Ltd., Ordnance Industry Equity Investment (Tianjin) Co., Ltd. and Xi'an Qinghua Investment Co., Ltd. on April 6, 2023.
ANHUI JIANGNAN CHEMICAL INDUSTRY CO., LTD. is a China-based company, principally engaged in the research and development, manufacture and distribution of civilian explosives. The Company's main explosive products include colloidal emulsion explosives, powder emulsion explosives, expanded ammonium nitrate explosives, porous ammonium oil explosives, seismic charges, nonel detonators and industrial detonating fuses, among others. The Company also manufactures and sells civilian detonating equipment, as well as is engaged in the civil explosive engineering business. The Company distributes its products within domestic market and to overseas markets.
Anhui Jiangnan Chemical Industry Co.,Ltd. completed the acquisition of Shaanxi North Civil Explosives Group Co., Ltd. from North Special Energy Group Co., Ltd., Ordnance Industry Equity Investment Co., Ltd. and Xi'an Qinghua Investment Co., Ltd.