BGRIMM Magnetic Materials & Technology Co., Ltd. cancelled the acquisition of BGRIMM Magnetic Materials Co., Ltd. from BGRIMM Technology Co., Ltd..
December 19, 2017
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BGRIMM Magnetic Materials & Technology Co., Ltd. agreed to acquire BGRIMM Magnetic Materials (Fuyang) Co., Ltd. from BGRIMM Technology Co., Ltd. (SHSE:600980) on December 20, 2016. The transfer price is based on the net book value. The specific transfer amount will be the book value at the time of actual completion. As of September 30, 2016, BGRIMM Magnetic Materials (Fuyang) Co., Ltd. reported total assets of CNY 239.7 million and net assets of CNY 45.69 million. The share transfer has been approved by BGRIMM Technology Co., Ltd. 6th directorate in its 6th meeting.
BGRIMM Magnetic Materials & Technology Co., Ltd. cancelled the acquisition of BGRIMM Magnetic Materials (Fuyang) Co., Ltd. from BGRIMM Technology Co., Ltd. (SHSE:600980) on December 20, 2017.
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. 
