# Sinoma Science & Technology to acquire Beijing Glass Fiber Institute for CNY 83M

Sinoma Science & Technology, a subsidiary of China National Building Material, agreed to acquire 100% of Beijing Glass Fiber Institute from CNBM Asset Management for CNY 83.028 million. The acquisition aims to integrate assets and reduce related-party transactions.

- Type: Acquisition
- Announced: 2019-07-31
- Where: China
- Value: $12.0M (83.0M CNY)
- Status: announced
- Products: glass fiber products, composite materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [China National Building Material Group](https://endata.com/companies/20207.md) (partner)
- [Sinoma Science & Technology Co., Ltd.](https://endata.com/companies/21457.md) (acquirer)
- [Beijing Glass Fiber Institute](https://endata.com/companies/40988.md) (target)
- [CNBM Asset Management](https://endata.com/companies/40989.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/223890.html), 2019-07-31: "中材科技向中建材资产管理订立协议，中材科技向中建材资产管理收购北玻院的100%股权，代价为人民币8302.8万元。"

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