Shandong Luyang Energy-Saving Materials

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.

Shandong Luyang Energy-Saving Materials signed a letter of intent with Unifrax Holding Co. for the transfer of technology for local production of lithium battery ceramic fiber paper to Qinai Shanghai, aiming for 100% local production within two years after the acquisition closes.

Shandong Luyang Energy-Saving Materials Co., Ltd. agreed to acquire 100% of Qinai United Fiber (Shanghai) Co., Ltd. from UNIFRAX UK HOLDCO LTD. The acquisition was submitted for shareholder approval on September 6, 2023.

Sinopec International awarded contracts for glass wool insulation materials for the Yizheng Chemical Fiber 3 million ton PTA project. Winners include Shandong Luyang Energy-Saving Materials, Anhui Dingyuan New Materials, and Yingsheng Energy-Saving Group.