China Baowu Steel Group Corporation Limited signed a Share Transfer Agreement to acquire 5% stake in Ruitai Materials Technology Co., Ltd. from China Building Materials Academy for approximately CNY130 million
February 19, 2021
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China Baowu Steel Group Corporation Limited signed a Share Transfer Agreement to acquire 5% stake in Ruitai Materials Technology Co., Ltd. (SZSE:002066) from China Building Materials Academy for approximately CNY130 million on August 26, 2020. Under the terms of agreement, China Baowu Steel Group Corporation agree to acquire 11.6 million shares of Ruitai Materials at price of CNY 11.01 per share.
Ruitai Materials Technology Co., Ltd. is a China-based company principally engaged in the development, manufacture and sales of refractory materials and wear-resistant materials. The Company's main products portfolio consists of fused cast zirconia-corundum refractory (AZS) series, fused cast alumina series, unshaped refractory series, basic refractory series, siliceous refractory series, aluminosilicate refractory series, zircon sand series, as well as wear resistant refractory series and others. Its products are applied in the glass, cement, metallurgy and other industries. The Company distributes its products within domestic market and to overseas markets'
China Baowu Steel Group Corporation Limited signed a Share Transfer Agreement to acquire 5% stake in Ruitai Materials Technology Co., Ltd. from China Building Materials Academy for approximately CNY130 million
RUITAI MATERIALS TECHNOLOGY CO., LTD. 
