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Poly Alliance intends to purchase 70% equity in Satellite Chemical

 Last Update: 2021-12-04
 Source: Internet
 Author: User

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north china

mg 1 100

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Sinochem News.
com News on November 26, Poly jointly announced that it intends to acquire 70% of Hebei Satellite Chemical Co.
, Ltd.
held by Hebei State-owned Assets Holding and Operation Co.
, Ltd.
through public delisting at a transaction price of not less than 1.
85 100 million yuan
.

Statistics show that Satellite Chemical was established in July 1990 with a registered capital of 200 million yuan.
It is the largest detonator manufacturer in Hebei Province
.

Financial data shows that from January to September this year, the company achieved operating income of 27.

Regarding the acquisition, Poly United stated that in order to seize the policy window period proposed by the civil explosives industry authorities to reduce the quantity of ordinary detonators and replace them with industrial electronic detonators through integration and reorganization, it will speed up the optimization of the company's production capacity layout and product adjustments in the hinterland of North China.

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