Pingdingshan Rixin Machinery Manufacturing Co., Ltd. acquired 50.6% in Pingdingshan Donglian Excavation Machinery Manufacturing Co., Ltd. from Linzhou Heavy Machinery Group Co., Ltd for CNY 14.9 million.
January 03, 2020
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Pingdingshan Rixin Machinery Manufacturing Co., Ltd. agreed to acquire 50.6% in Pingdingshan Donglian Excavation Machinery Manufacturing Co., Ltd. from Linzhou Heavy Machinery Group Co., Ltd (SZSE:002535) for CNY 14.9 million on November 25, 2019. The consideration is inclusive of dividend of CNY 2.5 million. The Board of Directors of Linzhou Heavy Machinery Group Co., Ltd. approved the deal on November 25, 2019.
Pingdingshan Rixin Machinery Manufacturing Co., Ltd. completed the acquisition of 50.6% in Pingdingshan Donglian Excavation Machinery Manufacturing Co., Ltd. from Linzhou Heavy Machinery Group Co., Ltd (SZSE:002535) on December 25, 2019.
Linzhou Heavy Machinery Group Co.,Ltd is a China-based company principally engaged in the manufacture, sale, maintenance and leasing of coal machinery equipment. The Company's main products include brackets, scrapers, pillars, road headers and other products. The Company is also involved in the manufacture and sales of explosion-proof electrical apparatus and robots, the operation of coal mines, the casting of pig iron, the sales of coal, as well as commercial factoring business. The Company distributes its products mainly in domestic market.
LINZHOU HEAVY MACHINERY GROUP CO.,LTD 
