# Huadong Heavy Machinery to acquire Runxing Technology for 2.95 billion yuan

Huadong Heavy Machinery (华东重机) announced it will acquire 100% of Runxing Technology (润星科技) for 2.95 billion yuan, paid via stock and cash, to enter the CNC machine tool business.

- Type: Acquisition
- Announced: 2017-05-01
- Where: China
- Value: $428.0M (2.95B CNY)
- Status: announced
- Products: CNC machine tools, high-speed drilling and tapping machining centers
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Huadong Heavy Machinery](https://endata.com/companies/17105.md) (acquirer)
- [Runxing Technology](https://endata.com/companies/17106.md) (target)

## Sources

- [cs.com.cn](https://cs.com.cn/ssgs/gsxw/201705/t20170501_5263613.html), 2017-05-01: "此次交易完成后，润星科技将成为公司全资子公司，公司将新增数控机床业务。"
- [jc35.com](https://www.jc35.com/news/detail/65482.html), 2017-07-11: "华东重机收购国内CNC设备润星科技，转型设备制造实现二次发展。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.