On Jan. 25, 2013, Dongyue Group Ltd. (Dongyue
Group) announced that its wholly-owned subsidiary Shandong
Dongyue Polymer Material Co., Ltd. had invested USD94.67 million to purchase
100% stock rights of Shandong Huaxia Shenzhou New material Co., Ltd. (Huaxia
Shenzhou) located in Dongyue International Fluorine and Silicon Material Industry
Park.
According to the announcement by Dongyue Group, it will finish the payment by cash. The first part of payment is the front money of about USD16,000 and it would be paid within 10 working days from the signing date of equity transfer agreement. The rest payment of about USD94.65 million will be paid in the delivery date.
According to the announcement by Dongyue Group, it will finish the payment by cash. The first part of payment is the front money of about USD16,000 and it would be paid within 10 working days from the signing date of equity transfer agreement. The rest payment of about USD94.65 million will be paid in the delivery date.
Dongyue Group is the main
company in the Dongyue International Fluorine and Silicon
Material Industry Park, which is the first fluorinated material base in China.
During the 20 years' development, the company has established a hi-tech product
line of fluorine and silicon material with new environmental protection, new
material and new energy. After purchasing Huaxia Shenzhou, it's believed that
the scope of business in Dongyue Group will further expand soon.
Currently, Huaxia Shenzhou mainly concentrates on the production and sales of various downstream refined products containing fluorine polymer. Its main products keep about 40% market share in China. What's more, Huaxia Shenzhou also has a number of patented technologies in many fields including high-end fluorine resin and other polymer material containing fluorine.
Currently, Huaxia Shenzhou mainly concentrates on the production and sales of various downstream refined products containing fluorine polymer. Its main products keep about 40% market share in China. What's more, Huaxia Shenzhou also has a number of patented technologies in many fields including high-end fluorine resin and other polymer material containing fluorine.
China Fluoride Materials Monthly
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