Zhongyeda Electric Co., Ltd. acquired 51% stake in Jiaxing City Jintai Electrical Co., Ltd. from Zhu Shifu and Shi Fengyi for CNY 5 million.
March 19, 2013 at 12:00 am EDT
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Zhongyeda Electric Co., Ltd. (SZSE:002441) acquired 51% stake in Jiaxing City Jintai Electrical Co., Ltd. from Zhu Shifu and Shi Fengyi for CNY 5 million on August 1, 2012. Zhongyeda Electric acquired 26.5% stake in Jiaxing City Jintai Electrical Co., Ltd. from Zhu Shifu for CNY 2.61 million and acquired 24.5% stake in Jiaxing City Jintai Electrical Co., Ltd. from Shi Fengyi for CNY 2.41 million. Zhongyeda Electric Co., Ltd. used internal funds for the transaction.
Zhongyeda Electric Co., Ltd. (SZSE:002441) completed the acquisition of 51% stake in Jiaxing City Jintai Electrical Co., Ltd. from Zhu Shifu and Shi Fengyi on August 1, 2012.
ZHONGYEDA ELECTRIC CO., LTD is a China-based distributor of industrial electrical products. The Company operates its businesses through the wholesale of energy, materials and mechano-electronic equipment, and electric equipment and machinery manufacturing business. The Company's products include low-voltage electrical products, medium voltage electrical products, industrial control products and others. The Company also provides system integration and sets manufacturing. The Company distributes its products within domestic market and to overseas markets.
ZHONGYEDA ELECTRIC CO., LTD. 