Argus Textile Chemicals Co.,Ltd. agreed to acquire 29% stake in Zhejiang Zhendong New Materials Co., Ltd from Shaoxing Zhendong Technology Co., Ltd for CNY69 million.
December 29, 2023
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Argus (Shanghai) Textile Chemicals Co.,Ltd. (SHSE:603790) agreed to acquire 29% stake in Zhejiang Zhendong New Materials Co., Ltd from Shaoxing Zhendong Technology Co., Ltd for CNY69 million on December 28, 2023. The seventh meeting of Argus (Shanghai) Textile Chemicals Co.,Ltd 's fifth board of directors approved this transaction. The source of funds for this transaction is the company's own or self-raised funds.
Argus (Shanghai) Texitile Chemicals Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of mid-high end dyes and textile auxiliaries, as well as providing the related applied technology services for dyeing and finishing. The Company's products include dyes and textile auxiliaries. Its dye products mainly include reactive dyes for cotton, dyes for wool and nylon and disperse dyes for polyester. Its textile auxiliary products include pre-dyeing auxiliaries, dyeing and printing auxiliaries as well as post-finishing auxiliaries. The Company's products are widely used in the dyeing, printing and functional finishing of cellulose fiber, protein fiber, polyamide fiber and polyester fiber.
Argus Textile Chemicals Co.,Ltd. agreed to acquire 29% stake in Zhejiang Zhendong New Materials Co., Ltd from Shaoxing Zhendong Technology Co., Ltd for CNY69 million.
ARGUS (SHANGHAI) TEXTILE CHEMICALS CO.,LTD. 
