ZheJiang KeDa Magnetoelectricity Co., Ltd(Hereinafter referred to as "KeDa Magnetoelectric") transferred 53.15% equity of KeShuHao holding and 6.85% equity of KeXin holding to NBTM New materials Group Co., Ltd (Hereinafter Referred to as "NBTM shares") ,here relevant issues announcement below:
Summary of equity transfer
KeDa share holders KeShuHao and KeXin signed the equity transfer agreement for partial equity of KeDa with NBTM shares on 24th September in NingBo
As agreement, Mr KeShuHao integral transferred 53.15% equity of keda to NBTM shares and Mr KeXin integral transferred 6.85% equity of keda to NBTM shares, NBTM shares Combined the transferee KeDa 60% equity.
Transferee's basic information
NBTM shares (Stock code: 600114) legal representative LuDeBao, registered capital 377 million yuan and Mutsumi special alloy industrial Co., LTD holds 25.92% equity of this company.
Main products: Powder metallurgy products and auto parts
NBTM shares is the largest powder metallurgy mechanical parts manufacturing enterprise in present china, and NBTM shares is also the "National key high-tech enterprise". Company currently has total of ten subsidiary corporations,include subsidiary and wholly-owned subsidiaries, the products are widely used in cars, motorcycles, refrigerators and air conditioning compressor, electric tools, household appliances, such as industry, some products exported to the United States, Japan and Europe and other countries and regions.
After equity transfer completed, KeDa Magnetoelectric industrial and commercial registration change to "ZheJiang NBTM KeDa Magnetoelectricity Co., Ltd., registered capital increased to RMB 30 million. NBTM shares has a 60% equity, KeXin holds 40% equity. NBTM keda plans to increase investment, and using highly automated, standardized production lines, establish soft magnetic materials manufacturing base with annual output of 20000 tons of metal magnetic powder core. company will become soft magnetic field of industry leading and international first-class enterprise.
The company's business policy, Business Concepts, management team and KDM trademark remains the same, at the same time the company will provide customers with more quality products and excellent service based on the existing platform.
ZheJiang NBTM KeDa Magnetoelectricity Co.,Ltd
30th Nov 2014