Ningbo Fubang to acquire 55% stake in Ningbo Electric Alloy

Ningbo Fubang Jingye Group announced that it has received board and authority approval to acquire 55% stake in Ningbo Electric Alloy Material Co.Asian Metal CopyrightNingbo Fubang Jingye Group announced that it has received board and authority approval to acquire 55% stake in Ningbo Electric Alloy Material Co.Asian Metal Copyright, Ltd.Asian Metal Copyright Upon completion, Ningbo Electric Alloy will become a majority-owned subsidiary of Ningbo Fubang.Asian Metal Copyright for RMB91.Asian Metal Copyright Upon completion, Ningbo Electric Alloy will become a majority-owned subsidiary of Ningbo Fubang.Asian Metal Copyright85 million (USD12.Asian Metal Copyright Through the share acquisition, Ningbo Fubang expects to boost competitiveness in the deep-processing of nonferrous metals such as copper and silver, aside from just aluminum products.Asian Metal Copyright68 million) in cash, as the company seeks to further expand product mix and diversify its business.Asian Metal Copyright68 million in cash, as the company seeks to further expand product mix and diversify its business.Asian Metal Copyright Upon completion, Ningbo Electric Alloy will become a majority-owned subsidiary of Ningbo Fubang.

Ningbo Fubang is mainly engaged in the processing of aluminum profiles and the trading of aluminum alloy bar. Ningbo Electric Alloy specializes in R&D, production and sales of electrical contacts functional composites materials, modules and hard alloys.

Through the share acquisition, Ningbo Fubang expects to boost competitiveness in the deep-processing of nonferrous metals such as copper and silver, aside from just aluminum products.

.Asian Metal Copyright Through the share acquisition, Ningbo Fubang expects to boost competitiveness in the deep-processing of nonferrous metals such as copper and silver, aside from just aluminum productsAsian Metal Copyright