Henan Mingtai Al.Industrial Co.,Ltd. completed the acquisition of 90.4% stake in Henan Gongdian Thermal Co., Ltd. from Du Zhenguo, Li Zhongliang and 32 shareholders.
June 30, 2014 at 12:00 am EDT
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Henan Mingtai Al.Industrial Co.,Ltd. (SHSE:601677) agreed to acquire 90.4% stake in Henan Gongdian Thermal Co., Ltd. from Du Zhenguo, Li Zhongliang and 32 shareholders for CNY 28.8 million in cash on February 25, 2014. As of September 2013, Henan Gongdian Thermal Co., Ltd. reported total assets of CNY 137.44 million, total liabilities of CNY 166.26 million, revenues of CNY 50.87 million, net loss of CNY 21.88 million and net liabilities of CNY 28.83 million. The Board of Directors of Henan Mingtai Al.Industrial Co. approved the transaction on February 25, 2014.
Henan Mingtai Al.Industrial Co.,Ltd. (SHSE:601677) completed the acquisition of 90.4% stake in Henan Gongdian Thermal Co., Ltd. from Du Zhenguo, Li Zhongliang and 32 shareholders in first half of 2014.
Henan Mingtai Al Industrial Co Ltd is a China-based company mainly engaged in the aluminum sheet, strip and foil, aluminum profiles and comprehensive utilization of renewable resources. The Company's main products include soft pack battery aluminum foil, electronic foil, checkered plate, commercial vehicle lightweight material, food and drug packaging foil, rail car body profile, aluminum alloy rail car body, new energy battery tray, automotive profile, extruded aluminum for Ultra High Voltage (UHV) transmission equipment Gas Insulated Line (GIL) Pipes, rail vehicle interior parts and other products. The Company's products are mainly used in new energy, new materials, Fifth Generation (5G) communication, pharmaceutical packaging, food packaging, transportation, UHV power transmission, rail car body, military industry and many other fields. The Company distributes its products in domestic market and to overseas markets.
Henan Mingtai Al.Industrial Co.,Ltd. completed the acquisition of 90.4% stake in Henan Gongdian Thermal Co., Ltd. from Du Zhenguo, Li Zhongliang and 32 shareholders.
HENAN MINGTAI AL.INDUSTRIAL CO.,LTD. 
