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Yongsheng New Materials sells 30% stake in Nantong Yongsheng to HUVIS · Endata

◂ Announcements

Aug 27, 2018ACQUISITIONNantong, China

Yongsheng New Materials sells 30% stake in Nantong Yongsheng to HUVIS

Yongsheng New Materials' subsidiary Yongsheng Dyeing & Finishing sold 30% equity in Nantong Yongsheng to HUVIS for CNY 17.66 million. Nantong Yongsheng becomes a joint venture, and HUVIS grants exclusive technology and brand licenses in China.

Status

Announced

Productspolyester filament yarn

CompaniesHuvis Yongsheng New Materials Huvis acquirer Nantong Yongsheng Fiber New Material Co. target

Sectors#Specialty Chemicals #Industrial Textiles

“永盛染整同意出售永盛染整持有的南通永盛30%股权予HUVIS，代价为现金人民币1766万元。”beta.zhitongcaijing.com

2 sources
beta.zhitongcaijing.com永盛新材料(03608)拟作价1766万元出售南通永盛30%股权予HUVISAug 27, 2018
tevonews.comFibre demand drives Asian collaborationChris RemingtonAug 31, 2018

Summarized from public sources; check the original articles before acting on it.

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