China Tungsten and Hightech Materials Co.,Ltd acquired Nanchang Cemented Carbide Limited Liability Company from Minmetals Tungsten Group Co., Ltd. for approximately CNY 290 million.
November 01, 2020
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China Tungsten and Hightech Materials Co.,Ltd (SZSE:000657) agreed to acquire Nanchang Cemented Carbide Limited Liability Company from Minmetals Tungsten Group Co., Ltd. for approximately CNY 290 million on August 21, 2020. On August 21, 2020, the transaction was approved by the 9th directorate of China Tungsten and Hightech Materials Co.,Ltd. On September 9, 2020, 3rd special shareholders’ meeting of China Tungsten and Hightech Materials Co.,Ltd for 2020 approved the transaction.
China Tungsten and Hightech Materials Co Ltd is a China-based company mainly engaged in the production and sales of cemented carbide and tungsten products. The Company is mainly engaged in the research, development, production, sale and trading of cemented carbide and non-ferrous metals such as tungsten, molybdenum, tantalum, niobium and their deep processing products and equipment. The Company's main products include cutting tools and tools such as integral tools, computer numerical control (CNC) tools, and cutting blades; other cemented carbides such as bars, mining alloys, rolls, special shapes, precision parts, traditional alloys, drilling tools, and finished tools; refractory metals such as tungsten-molybdenum products, tungsten-niobium products, hard facing materials, tungsten wires, as well as tungsten compounds such as tungsten carbide powder, blue tungsten, and yellow tungsten, mixtures, cobalt powder and other powder products.
China Tungsten and Hightech Materials Co.,Ltd acquired Nanchang Cemented Carbide Limited Liability Company from Minmetals Tungsten Group Co., Ltd. for approximately CNY 290 million.