Thursday, March 21, 2013

Shandong Dongyue Polymer Material Co., Ltd. purchases 100% stock rights of Shandong Huaxia Shenzhou New material Co., Ltd.

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.

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