Xiamen Tungsten: acquisition of Zhujiang Photoelectricity
Fujian Changting Jinlong Real Earth Limited, a wholly-controlled subsidiary of Xiamen Tungsten (600549), plans to buy 100 percent stake of Guangzhou Zhujiang Optonix New Material from Mitsubishi Chemical Corporation for 3.87 million dollars, reports Shanghai Securities News, citing a company filing.
The target company has a registered capital of 47 million yuan and specializes in the production, process and sale of phosphor powder for screen. As of 31st, July, 2010, the company had total assets of 56.63 million yuan and net assets of 34.64 million yuan.
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