Shanghai Mechanical & Electrical Industry Co., Ltd. cancelled the acquisition of an additional Nabtesco Precision Equipment Co., Ltd. from Shanghai Electric Hydraulics & Pneumatics Co., Ltd.
November 13, 2017
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Shanghai Mechanical & Electrical Industry Co., Ltd. (SHSE:600835) agreed to acquire an additional Nabtesco (China) Precision Equipment Co., Ltd. from Shanghai Electric Hydraulics & Pneumatics Co., Ltd. for CNY 74.6 million on November 14, 2016. As of June 30, 2016, Nabtesco (China) Precision Equipment Co., Ltd. had total assets of CNY 288.11 million and net assets of CNY 226.09 million. Board of Directors of Shanghai Mechanical & Electrical Industry Co., Ltd. approved the transaction on November 14, 2016.
Shanghai Mechanical & Electrical Industry Co., Ltd. (SHSE:600835) cancelled the acquisition of an additional Nabtesco (China) Precision Equipment Co., Ltd. from Shanghai Electric Hydraulics & Pneumatics Co., Ltd. on November 14, 2017.
Shanghai Mechanical & Electrical Industry Co., Ltd. is principally engaged in the manufacture and distribution of mechanical and electrical equipment. The Company provides lifts and escalators, printing and packaging machines, refrigeration and air conditioning equipment, welding equipment, engineering machineries, wood-based panel machineries, energy engineering, hydraulic and pneumatic products and electrical equipment. The Company distributes its products within domestic market and to overseas markets.
Shanghai Mechanical & Electrical Industry Co., Ltd. cancelled the acquisition of an additional Nabtesco Precision Equipment Co., Ltd. from Shanghai Electric Hydraulics & Pneumatics Co., Ltd.
SHANGHAI MECHANICAL & ELECTRICAL INDUSTRY CO.,LTD. 
