# CSJB Power Material Technology to acquire 67% stake in WXTL Electrical Materials

CSJB Power Material Technology Group, through its subsidiary CSJB Magnet Wire Technology Company, plans to acquire a 67% equity stake in WXTL Electrical Materials Technology Co., Ltd. for 235 million yuan to strengthen its magnet wire business and expand into UHV products.

- Type: Acquisition
- Announced: 2024-01-15
- Where: China
- Value: $32.6M (235.0M CNY)
- Status: announced
- Products: magnet wire, UHV winding wires
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [CSJB Power Material Technology Group](https://endata.com/companies/74959.md)
- [WXTL Electrical Materials Technology Co., Ltd.](https://endata.com/companies/74960.md) (target)

## Sources

- [haythink.com](https://www.haythink.com/tesla-motors-magnet-wire-supplier-acquires-chinese-magnet-wire-competitor/), 2024-01-15: "This is another acquisition by CSJB following the acquisition of WHEX Magnet Wire Technology."

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