CSG Subsidiary Spends USD5 Million to Acquire 85% Stake in Smart Device Maker
Yicai Global
/SOURCE : Yicai
CSG Subsidiary Spends USD5 Million to Acquire 85% Stake in Smart Device Maker

(Yicai Global) Dec. 12 -- CSG Smart Science & Technology Co. [SZ:300222] plans to acquire 85 percent of the equity in a smart packaging equipment manufacturer for sanitary napkin products, with an investment of CNY35 million (USD5 million).

CSG said today its wholly-owned subsidiary -- CSG Intelligent Robot Technology Co. -- signed an equity transfer agreement with Hangzhou New Yuhong Machinery Co. and its four individual shareholders on Dec. 11.

The target company specializes in research and development, production and sales of a series of automated and intelligent production equipment for health-care products. After the deal, it will create a synergy with Shanghai Sanqu Intelligent Technology Co -- another CSG-controlled subsidiary.

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