# Tiangong International to acquire Weijian Tools for RMB 109 million

Tiangong International's subsidiary Tiangong Tools will acquire all equity of Weijian Tools from Junfa and Qianjia Investment for about RMB 109 million. Weijian Tools produces high-speed steel wire rods.

- Type: Acquisition
- Announced: 2020-11-13
- Where: China
- Value: $16.5M (109.0M CNY)
- Status: announced
- Products: high-speed steel wire rods
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Tiangong International](https://endata.com/companies/51177.md) (acquirer)
- [Weijian Tools](https://endata.com/companies/51178.md) (target)
- [Junfa](https://endata.com/companies/51179.md) (partner)
- [Qianjia Investment](https://endata.com/companies/51180.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/362451.html), 2020-11-13: "天工工具将向骏发及乾嘉投资收购伟建工具的全部股权，总代价为约人民币1.09亿元。"

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