Kingray New Materials Science & Technology Co.,Ltd completed the acquisition of remaining 49% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd.
December 25, 2014 at 11:00 pm EST
Share
Kingray New Materials Science & Technology Co.,Ltd (SHSE:600390) won the bid to acquire remaining 49% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd. on November 28, 2014. As on December 3, 2014, Kingray New Materials Science & Technology Co.,Ltd (SHSE:600390) signed asset transaction contract to acquire remaining 49% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd. for CNY 12.4 million on December 4, 2014. The consideration will be paid within three working days after the contract becomes effective. Kingray New will hold 100% stake in Hunan Changyuan after completion of the transaction.
Kingray New Materials Science & Technology Co.,Ltd (SHSE:600390) completed the acquisition of remaining 49% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd. on December 26, 2014.
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 remaining 49% stake in Hunan Changyuan Lico Co., Ltd. from Changsha Research Institute of Mining & Metallurgy Co., Ltd.
HUNAN CHANGYUAN LICO CO.,LTD. 
