SiTong New Materials acquires Lizhong for RMB 2.55 billion

SiTong New Materials acquired 100% of Tianjin Lizhong Group Co., Ltd. (Lizhong) for RMB 2.55 billion, approved by the China Securities Regulatory Commission on December 20, 2018. The company also raised RMB 516 million in matching funds for projects including an aluminum alloy wheel plant and Industry 4.0 factory upgrades.

“The company acquired 100% of the shares of Tianjin Lizhong Group Co., Ltd. by issuing shares, and the transaction consideration was RMB 2.55 billion.”en.stnm.com.cn

• 1 source
• en.stnm.com.cnSiTong New MaterialsMay 1, 2019

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