General Technology Shenyang Machine Tool Group

Shenyang Machine Tool plans to issue shares to acquire 100% of Shenyang Machine Tool Zhongjie Friendship Factory and Shenyang Zhongjie Aerospace Machine Tool, and 78.45% of Tianjin Tianduan Press, from related parties.

Shenyang Machine Tool announced plans to acquire 100% of Zhongjie Factory and Zhongjie Aerospace from General Technology Shenyang Machine Tool Group, and 78.45% of Tianjin Tianduan from General Technology Machine Tool Company, for a total of 1.724 billion yuan. The deal aims to expand its high-end product portfolio and resolve competition issues.