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Changhai announced recently, plans to inject $7.8 million USD into Changzhou Tianma Group to obtain 30% Tianma stakes.
Tianma has a registered capital of $5 millions USD. The main products are glass fibers and the chemical raw materials needed for the production. Since the second half of 2007, Tianma made a series of major investments. This caused the shortage in cash flows and brought enormous pressure on its operation. Its pool kiln has not been ignited for production so far.
Changhaki and Tianma are all in fiberglass products industry, and they all are the enterprises having a relative advantage in the industry. And they are all located in the same area. This acquisition will expand the scale of the company, increase product variety, improve product structure, optimize the allocation of resources, give full play to the synergies, and compensate the talent and technology advantages as well as for the effective integration of customer channels.
More information:www.changhaigfrp.com - www.tm253.com
Original language Chinese