Falcon Tech Co., Ltd. announced that it has received CNY 170 million in funding from Yinbang Clad Material Co., Ltd. and other investors.
December 17, 2013 at 11:00 pm EST
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Falcon Tech Co., Ltd. announced that it has received CNY 170 million in funding on December 18, 2013. The company issued equity securities in the transaction. The transaction included participation from existing investors in the ratio of their current holdings. Yinbang Clad Material Co., Ltd. invested CNY 76.5 million and continues to hold 45% stake in the company. The transaction was approved in 25th session of the company's 1st directorate of Yinbang Clad Material Co., Ltd. and is already approved by shareholders of Yinbang Clad Material Co., Ltd. The registered capital of the company upon closing is CNY 220 million.
On December 18, 2013, Falcon Tech Co., Ltd. closed the transaction.
Yinbang Clad Material Co., Ltd. is a China-based company principally engaged in the research, development and production of new metal materials. The Company's main products include aluminum heat transmission materials, aluminum steel composite materials, polymetal composite materials and aluminum alloy composite protective materials. The Company's products are mainly used in automobile, construction machinery, power, household appliance and electronics industries. The Company distributes its products in domestic market and to overseas markets.
YINBANG CLAD MATERIAL CO.,LTD 
