echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Coatings News > Resin News > Puyang Huicheng intends to acquire 100% equity of Shandong Qingyang New Materials for 70 million yuan

    Puyang Huicheng intends to acquire 100% equity of Shandong Qingyang New Materials for 70 million yuan

    • Last Update: 2021-03-30
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com
    On the evening of October 7, Puyang Huicheng announced that the company intends to purchase 100% of Shandong Qingyang New Materials Co.
    , Ltd.
    (hereinafter referred to as "Qingyang New Materials") in cash.
    The transaction price is expected to be 70 million yuan.

    According to the announcement, on September 30, the company and Shi Tugen and Xu Wenwen (hereinafter collectively referred to as the "transferor") signed the "Puyang Huicheng Electronic Materials Co.
    , Ltd.
    and Shi Tugen and Xu Wenwen on Shandong Qingyang "The Acquisition Framework Agreement of New Materials Co.
    , Ltd.
    " hereinafter referred to as "the "Acquisition Framework Agreement"), the company intends to purchase 100% of the equity of Qingyang New Materials held by the transferor for 70 million yuan in cash.
    This transaction does not constitute a connected transaction, nor does it constitute a major asset reorganization.

    According to the announcement, on September 30, the company and Shi Tugen and Xu Wenwen (hereinafter collectively referred to as the "transferor") signed the "Puyang Huicheng Electronic Materials Co.
    , Ltd.
    and Shi Tugen and Xu Wenwen on Shandong Qingyang "The Acquisition Framework Agreement of New Materials Co.
    , Ltd.
    " hereinafter referred to as "the "Acquisition Framework Agreement"), the company intends to purchase 100% of the equity of Qingyang New Materials held by the transferor for 70 million yuan in cash.
    This transaction does not constitute a connected transaction, nor does it constitute a major asset reorganization.

    Qingyang New Materials is located in East Taiwan Road (west of Runquan Chemical Industry), Heze Development Zone, with a registered capital of 3 million yuan.
    It is mainly engaged in the production and sales of methyltetrahydrophthalic anhydride, methylhexahydrophthalic anhydride, carbon five mixtures, and methyl four polymers.

    Qingyang New Materials is located in East Taiwan Road (west of Runquan Chemical Industry), Heze Development Zone, with a registered capital of 3 million yuan.
    It is mainly engaged in the production and sales of methyltetrahydrophthalic anhydride, methylhexahydrophthalic anhydride, carbon five mixtures, and methyl four polymers.

    Puyang Huicheng Company is mainly engaged in the research and development and production of organic acid anhydrides, organic amines and esters.
    The products are used in light-emitting diodes (LED), organic light-emitting displays (OLED), coatings, and synthetic resins.
    The hydrogenated anhydride products produced by our company, such as tetrahydrophthalic anhydride, hexahydrophthalic anhydride, methyltetrahydrophthalic anhydride, methylhexahydrophthalic anhydride, etc.
    , have an annual output of 15,000 tons, which is currently the largest domestic production and most complete variety of hydrogenated anhydride production enterprise.

    Puyang Huicheng Company is mainly engaged in the research and development and production of organic acid anhydrides, organic amines and esters.
    The products are used in light-emitting diodes (LED), organic light-emitting displays (OLED), coatings, and synthetic resins.
    The hydrogenated anhydride products produced by our company, such as tetrahydrophthalic anhydride, hexahydrophthalic anhydride, methyltetrahydrophthalic anhydride, methylhexahydrophthalic anhydride, etc.
    , have an annual output of 15,000 tons, which is currently the largest domestic production and most complete variety of hydrogenated anhydride production enterprise.

    Puyang Huicheng stated that, based on the company's development strategy considerations, the company's acquisition of all the shares of Qingyang New Materials is conducive to the company's larger and stronger company's main business and is in the interest of the company and all shareholders.
    The "Acquisition Framework Agreement" is only the preliminary intention reached between the company and the transferor.
    There is still uncertainty about its success, and the impact on the company's operating performance for the year cannot be estimated for the time being.

    Puyang Huicheng stated that, based on the company's development strategy considerations, the company's acquisition of all the shares of Qingyang New Materials is conducive to the company's larger and stronger company's main business and is in the interest of the company and all shareholders.
    The "Acquisition Framework Agreement" is only the preliminary intention reached between the company and the transferor.
    There is still uncertainty about its success, and the impact on the company's operating performance for the year cannot be estimated for the time being.
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.
    Related Articles

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent Echemi's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.