# 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.

- Type: Acquisition
- Announced: 2018-08-27
- Where: Nantong, China
- Status: announced
- Products: polyester filament yarn
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Huvis](https://endata.com/companies/15590.md)
- [Yongsheng New Materials](https://endata.com/companies/33941.md)
- [Huvis](https://endata.com/companies/15590.md) (acquirer)
- [Nantong Yongsheng Fiber New Material Co.](https://endata.com/companies/34044.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/147665.html), 2018-08-27: "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。"
- [tevonews.com](https://www.tevonews.com/fibres-yarns-news/1636-fibre-demand-drives-asian-collaboration), 2018-08-31: "South Korean textile manufacturer Huvis Corporation has established a new joint venture in China with Nantong Yongsheng Fiber New Material Co., and has subsequently acquired 30 per cent of the company"

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