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ZYS Restructuring To Be Nearly 900 Million Acquisition Of 100% Stake Of SINOMACH PRECISION INDUSTRY
Mar 24, 2017

ZYS restructuring to be nearly 900 million acquisition of 100% stake of SINOMACH PRECISION INDUSTRY

ZYS intends to 8,977 yuan / share issue of 10011.15 million shares, the price of 898 million yuan acquisition of the controlling shareholder of the Group held SINOMACH 100% stake in the same time to be not less than 9.65 yuan / share of non-public offering of shares to raise funds not more than 629 million Yuan, used to pay the underlying assets under construction project construction costs and intermediary fees, which State Machine Group subsidiary of the national capital subscription accounted for 10%. As the Shenzhen Stock Exchange will be the relevant documents for post-audit, the company's shares will continue to suspend.

SINOMACH PRECISION INDUSTRY  main business, of which three grinding is committed to the superhard materials abrasive abrasive (mainly superhard products grinding wheel and grinding fluid) and industry-specific production, testing equipment, equipment research and development, production products are mainly used in automotive, electronics, Refrigeration, tools, LED, industry-specific equipment and other industries. In the machine cooperation is mainly engaged in abrasive abrasive and new energy products import and export trade and technical services, business in more than 80 countries and regions in the long-term trade business has accumulated a large number of customer and supplier resources.

 

ZYS said that the subject matter of the transaction and the listed company has a strong synergistic effect, the transaction is conducive to extend the listed company's industrial chain, improve the R & D capabilities of listed companies to increase the resources of listed companies and expand the listed companies overseas business.

 

At the same time announced that the transaction is completed, SINOMACH will be listed companies as its Seiko industry industry consolidation platform, one after another its Seiko assets into the listed companies, listed companies to build SINOMACH Seiko business expansion platform, Seiko talent aggregation Platform and Seiko brand bearing platform.