# Luyang Energy-Saving Materials completes acquisition of Unifrax Shanghai

Shandong Luyang Energy-Saving Materials Co., Ltd. completed the acquisition of 100% equity of Qinai United Fiber (Shanghai) Co., Ltd. (Unifrax Shanghai) from UNIFRAX UK HOLDCO LTD for $34.735 million, with the transaction closing on November 30, 2023.

- Type: Acquisition
- Announced: 2023-12-02
- Where: Shanghai, China
- Value: $34.7M
- Status: completed
- Products: ceramic fibers, insulation materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Shandong Luyang Energy-Saving Materials](https://endata.com/companies/70202.md) (acquirer)
- [UNIFRAX UK HOLDCO LTD](https://endata.com/companies/72447.md) (partner)
- [Qinai United Fiber (Shanghai)](https://endata.com/companies/72448.md) (target)

## Sources

- [paper.cnstock.com](https://paper.cnstock.com/html/2023-12/02/content_1849016.htm), 2023-12-02: "自交割日起，奇耐上海完全交付公司，自此由公司全权管理。"

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