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On March 20, Jinpu Titanium Industry announced that the controlling shareholder Jinpu Group intends to acquire 100% of the shares of Jiangsu Taibai held by Zhenjiang Guokong, confirming that the overall valuation of Jiangsu Taibai is 131 million yuan
.
Jiangsu Taibai, which also produces and sells titanium dioxide, will compete with Gimpo Titanium.
Therefore, Gimpo Group promises to promote the acquisition of 100% of Jiangsu Taibai by Gimpo Titanium within 36 months from the date of acquiring the equity of Jiangsu Taibai.
.
It is understood that Jiangsu Taibai has a production capacity of 70,000 tons/year of titanium dioxide, and its main business is the production and sales of rutile titanium dioxide and anatase titanium dioxide
.
Among them, high-grade rutile titanium dioxide accounts for about 90%
.
At the same time, Jiangsu Taibai can also produce some raw materials and energy required for the production of titanium dioxide such as sulfuric acid and steam
.
In 2019, Jiangsu Taibai had total assets of 568 million yuan, revenue of 730 million yuan, and loss of 28.
03 million yuan
.
It is worth noting that in May last year, Jinpu Titanium planned to acquire Guxiandao New Materials, and the CSRC refused to approve the reorganization application of Jinpu Titanium after receiving an inquiry letter from the exchange due to the issue of horizontal competition
.
Gimpo Titanium Industry stated that Gimpo Group promises that if the acquisition fails the review of the regulatory agency or Jiangsu Taibai fails to meet the requirements of the injection company, it will adopt other methods within the 36-month period, such as market-oriented sales to other parties, etc.
Solve the problem of horizontal competition
.
.
Jiangsu Taibai, which also produces and sells titanium dioxide, will compete with Gimpo Titanium.
Therefore, Gimpo Group promises to promote the acquisition of 100% of Jiangsu Taibai by Gimpo Titanium within 36 months from the date of acquiring the equity of Jiangsu Taibai.
.
It is understood that Jiangsu Taibai has a production capacity of 70,000 tons/year of titanium dioxide, and its main business is the production and sales of rutile titanium dioxide and anatase titanium dioxide
.
Among them, high-grade rutile titanium dioxide accounts for about 90%
.
At the same time, Jiangsu Taibai can also produce some raw materials and energy required for the production of titanium dioxide such as sulfuric acid and steam
.
In 2019, Jiangsu Taibai had total assets of 568 million yuan, revenue of 730 million yuan, and loss of 28.
03 million yuan
.
It is worth noting that in May last year, Jinpu Titanium planned to acquire Guxiandao New Materials, and the CSRC refused to approve the reorganization application of Jinpu Titanium after receiving an inquiry letter from the exchange due to the issue of horizontal competition
.
Gimpo Titanium Industry stated that Gimpo Group promises that if the acquisition fails the review of the regulatory agency or Jiangsu Taibai fails to meet the requirements of the injection company, it will adopt other methods within the 36-month period, such as market-oriented sales to other parties, etc.
Solve the problem of horizontal competition
.
