NBTM New Materials Group Co., Ltd. completed the acquisition of 97% stake in Deqing Xinchen New Material Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd.
March 15, 2022
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NBTM New Materials Group Co., Ltd. (SHSE:600114) agreed to acquire 97% stake in Deqing Xinchen New Material Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd., Ke Xin and Ding Xuhong for CNY 190 million on January 17, 2022. Under the terms, As of February 15, 2022, NBTM New Materials Group Co., Ltd. paid 50% of the consideration price which is CNY 97 million. The transaction has been approved by the board of NBTM New Materials Group Co. and is subject to the approval of their shareholders. As of February 9, 2022, the transaction has been approved by the shareholders of NBTM New Materials Group Co.
NBTM New Materials Group Co., Ltd. (SHSE:600114) completed the acquisition of 97% stake in Deqing Xinchen New Material Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd. on March 16, 2022.
NBTM New Materials Group Co., Ltd. is a China-based company principally engaged in the production and sales of powder metallurgy machinery parts and soft magnetic materials. The Company's powder metallurgy machinery products include automotive parts, motorcycle parts and home appliance parts. The Company's powder metallurgy machinery parts are mainly applied in engines, gearboxes, chassis, compressors of air conditioners and refrigerators and motorcycle clutches. The Companyâs soft magnetic materials include gold powder, iron cores and alloy magnetic powder cores, among others, which are used for electrical equipment and electronic equipment. The Company distributes its products in domestic market and to overseas markets, including the North America, Europe, Japan, Korea and other areas.
NBTM New Materials Group Co., Ltd. completed the acquisition of 97% stake in Deqing Xinchen New Material Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd.