Shanghai Luxin Packing Materials Science & Technology Co., Ltd. cancelled the acquisition of partial assets of Shanghai Shen Wei Da Machinery Co., Ltd.
March 02, 2016 at 11:00 pm EST
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Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) agreed to acquire partial assets of Shanghai Shen Wei Da Machinery Co., Ltd. for CNY 11.4 million on March 3, 2015. The assets in Shanghai Shen Wei Da Machinery were listed for sale in a public auction at Shanghai United Assets and Equity Exchange. In related transactions, Shanghai Yoco Printing Machinery agreed to acquire 60% stake in Shanghai Yawa Printing Machinery and Shanghai Luxin Packing Materials Science and Technology Co., Ltd agreed to acquire partial assets of Shanghai Purlux Machinery Co., Ltd. The transaction was approved by Board of Directors of Shanghai Mechanical & Electrical Industry Co., Ltd., ultimate of parent of Shanghai Shen Wei Da Machinery.
Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) cancelled the acquisition of partial assets of Shanghai Shen Wei Da Machinery Co., Ltd. on March 3, 2016.
Shanghai Shunho New Materials Technology Co.,Ltd., formerly Shanghai Luxin Packing Materials Science & Technology Co., Ltd., is a China-based company principally engaged in the research, development, manufacture, processing and distribution of packaging products. The Company's main products include vacuum metalized papers, polypropylene fibers for cigarettes, as well as white cardboards and laminated papers. The Company is also involved in the provision of printing materials, hologram papers as well as optical anti-counterfeiting films, among others. The Company's products are applied in the packing of tobaccos, food, beverages, sports goods, liquors and others. In addition, the Company also engages in the research, manufacture and distribution of natural biological fertilizer and organic feed, as well as the development of network technology, among others. The Company distributes its products within domestic market and to overseas markets.
SHANGHAI SHUNHO NEW MATERIALS TECHNOLOGY CO.,LTD. 
