BGRIMM Magnetic Materials Co., Ltd. announced that it expects to receive CNY 146 million in funding from BGRIMM Technology Co., Ltd.
November 10, 2017
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BGRIMM Magnetic Materials (Fuyang) Co., Ltd. announced that it will receive CNY 146,000,000 in an equity round of funding on November 11, 2017. The transaction will include participation from returning investor, BGRIMM Technology Co., Ltd. (SHSE:600980) to maintain its 100% stake in the company. Post the closing of the transaction, the registered capital of the company will increase from CNY 120,000,000 to CNY 226,000,000. The transaction was approved at the 11th session of the 6th meeting of the board of director of the investor.
BGRIMM Technology Co Ltd is a company engaged in the research and development (R&D), production, sales and service of mining and metallurgical equipment and magnetic materials. The mining and metallurgical equipment mainly includes flotation equipment, magnetic separation equipment, grinding equipment, mixing tank, beneficiation auxiliary equipment, automatic zinc stripping unit, metallurgical leaching tank, environmental protection equipment and others. The magnetic material products include sintered permanent magnet ferrite, bonded permanent magnet ferrite, injection molding magnet, rubber magnet, magnetic recording material, rare earth permanent magnet and other magnetic materials, permanent magnet parts and others. The Company's products are mainly sold to East and South China, Europe, the United States, Japan, Hong Kong, Taiwan and other regions.
BGRIMM TECHNOLOGY CO., LTD. 
