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Changhai announcedthat the company is intended to increase its investment to Changzhou Tianma Group Co., Ltd. Changhan invested $8.2 million (51.2 million Yuan) to acquire approximately 29.41% of Tianma Group’s equity.
Changhai also announced a notice of replenishment in Tianma. According to the notice, upon the completion of the first stage of replenishment to Tianma Group, Changhai intends to continue its investment in Tianma.
Changhai plans to invest $10 million (62 million Yuan) cash capital to increase its investment in Tianma, which led its holding of Tianma reached about 40% of the equity.
About Tianma:Established in 1960, Tianma is biggest FRP raw material manufacturer in China. As a high & new tech enterprise in Jiangsu, it was awarded quality management prizes and science & tech advance prizes many times. It was ISO9001 certified in 1999. Tianma main products include glass fiber products, unsaturated polyester resin accessories series, glass fiber reinforced composite materials, traffic construction geotechnical materials, fine chemicals, and such as glass fibers binder.
About Jiangsu Changhai Composite Materials:Jiangsu Changhai Composite Materials Co., Ltd, founded in May 2000, is a large scientific and technical enterprises focusing on the scientific research, product development, production, sales and service in the area of fiberglass-based composite materials manufacture.
More information:www.changhaigfrp.com - www.tm253.com
Original language Chinese