GCH Technology Co., Ltd. completed the acquisition of Tangshan Keao Chemical Additives Co., Ltd. from Zhang Lei and Li Xiuying.
January 30, 2023
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GCH Technology Co., Ltd. (SHSE:688625) entered into an agreement to acquire Tangshan Keao Chemical Additives Co., Ltd. from Zhang Lei and Li Xiuying for CNY 88.3 million on January 6, 2023. The consideration will paid in cash and in four tranches. The first two tranches will be paid by completion date and remaining two tranches of total CNY 22.08 million within two years of completion date. The board of directors of GCH Technology Co., Ltd. approved the transaction. The transaction is subject to approval from shareholders of GCH Technology and any external approval if required. Keao Chemical recorded total assets of CNY 85.81 million and net assets of CNY 70.65 million as of October 31, 2022. The transaction is expected to close on February 28, 2023.
GCH Technology Co., Ltd. (SHSE:688625) completed the acquisition of Tangshan Keao Chemical Additives Co., Ltd. from Zhang Lei and Li Xiuying on January 31, 2023.
GCH Technology Co Ltd is a China-based company mainly engaged in the manufacture of polymer material additives. The Company's main products nucleating agents, synthetic hydrotalcite and compound additives are key materials for the manufacture of high-performance resins and are at the upstream of the high-performance resin and modified plastics manufacturing industry. The Company's products can improve the general resin products of optical, mechanical properties and to improve the stability of resin products, made of high performance resin products can meet the food packaging contact materials, medical equipment, pharmaceutical packaging, infants and young children, auto parts, lithium battery materials, household appliances household items, lithium batteries, such as building materials like industry safety and environmental requirements.
GCH TECHNOLOGY CO., LTD. 
