Kingray New Materials Science & Technology Co.,Ltd completed the acquisition of 35% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd.
December 29, 2013 at 11:00 pm EST
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Kingray New Materials Science & Technology Co.,Ltd (SHSE:600390) signed an agreement to acquire an additional 35% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd. through a bid for CNY 7.6 million on December 17, 2013. After the transaction, Kingray New Materials Science & Technology will hold a 51% stake in Hunan Changyuan.
Kingray New Materials Science & Technology Co.,Ltd (SHSE:600390) completed the acquisition of 35% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd. on December 30, 2013.
Hunan Changyuan Lico Co Ltd is a China-based company mainly engaged in the research and development, production and sales of battery cathode materials. The Company's main products include ternary cathode materials and precursors, lithium cobalt oxide cathode materials, spherical nickel and so on. Its products are mainly used in the manufacture of new energy batteries, which are mainly used in electric vehicles, Computer, Communications and Consumer-Electronics (3C), energy storage and other fields. The Company mainly conducts business within the domestic market.
Kingray New Materials Science & Technology Co.,Ltd completed the acquisition of 35% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd.
HUNAN CHANGYUAN LICO CO.,LTD. 
