Anhui Taier Heavy Industry Buys Apple Intermediate Supplier for USD68 Million
Yicai Global
/SOURCE : Yicai
Anhui Taier Heavy Industry Buys Apple Intermediate Supplier for USD68 Million

(Yicai Global) July 18 -- Mechanical power transmission equipment maker Anhui Taier Heavy Industry Co. [SHE:002347] is to wholly acquire high-tech company Suzhou Longyu Electronic Equipment Co. for CNY460 million (USD68.66 million) as it seeks to establish a presence in the smart manufacturing sector.

The firm also plans to raise up to CNY190 million in a non-public share offering.

Longyu Electronic is a high-tech company mainly providing automatic complementary services for the computer, communication and consumer electronic industries. It is also an intermediate supplier of Apple Inc.

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