Tianrun Crankshaft Co., Ltd. is to Hold the Share of Jiangsu Songlin Automobile Parts

Resource from: CBCC Likes:3027

Aug 17,2011

Tianrun Crankshaft Co., Ltd. (002 283) is to acquire 51% stake of Jiangsu Songlin Automobile Parts Co., Ltd., the whole turnover will not exceed RMB 200 million. After the transaction, the company will increase the investment unilaterally to ensuret the 75% of share holding. If the net profit of Jiangsu Songlin Automobile Parts Co., Ltd. is 10 times higher than last year or loss in the first seven months after auditing, the company has the right to terminate the transaction. The stock price of the company is 14.91 yuan per share before the suspension. Comments: Jiangsu Songlin Automobile Parts Co., Ltd. is a large crankshaft supplier in China, and this transaction will increases the company's products in the market share of its surrounding areas.

(CBCC)

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