Inovance Technology purchased Shanghai Laien with RMB 60 million

Resource from: CBCC Likes:196

Jul 01,2016

On Jun 20, Shenzhen Inovance Technology Co., Ltd. (hereinafter referred to as Inovance Technology) purchased Shanghai Laien Machine Tool Parts Corporation (hereinafter referred to as Shanghai Laien) with RMB 60 million. After completing equity transfer and capital increase, Inovance Technology will hold 60% stake of Shanghai Laien, obtaining actual control of Shanghai Laien. Shanghai Laien, established in 20016, is a specialized in design, production and sales of high-precision ball screw products for more than three-axis CNC machine tools. The acquisition will be helpful for Inovance Technology to improve its products and integrated solutions in mechanical transmission industry.

(CBCC)

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