Sandvik Investment Co., Ltd. completed the acquisition of 12.44% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. from a group of shareholders.
November 24, 2022
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Sandvik (China) Investment Co., Ltd. signed an agreement to acquire 12.44% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. from a group of shareholders on October 23, 2022. After the completion of the equity transfer, Ningbo BaoSi Energy Equipment Co., Ltd. (SZSE:300441) still holds 55.94% of the equity of Suzhou Ahno Precision Cutting Tool Technology. On October 21, 2022, the 14th session of Ningbo BaoSi Energy Equipment's 4th directorate approved the proposal on the transfer of equity in subsidiary.
Sandvik (China) Investment Co., Ltd. completed the acquisition of 12.44% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. from a group of shareholders on November 25, 2022.
Ningbo BaoSi Energy Equipment Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and sales of compressor products, cutting tool products, precision transmission parts and pump products. Its compressor products mainly include screw host machines and screw compressor whole machines. Its cutting tool products mainly include standard cutting tools, non-standard cutting tools and grinding services. Its precision transmission parts mainly include worm shaft, screw shaft and ordinary motor shaft. Its products are widely used in petroleum extraction, oil refining, coal mine and biomass fuel gas extraction and recovery.
Sandvik Investment Co., Ltd. completed the acquisition of 12.44% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. from a group of shareholders.
NINGBO BAOSI ENERGY EQUIPMENT CO., LTD. 
