Shandong Donghong Pipe Industry Co., Ltd. won a bid to acquire 5% stake in Tianjin Pipeline Engineering Group Co., Ltd. from Tianjin Water Group Co., Ltd. for CNY 95.4 million.
January 05, 2021
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Shandong Donghong Pipe Industry Co., Ltd. (SHSE:603856) won a bid to acquire 5% stake in Tianjin Pipeline Engineering Group Co., Ltd. from Tianjin Water Group Co., Ltd. for CNY 95.4 million on December 23, 2020. Shandong Donghong Pipe Industry Co., Ltd. (SHSE:603856) signed Property Rights Transaction Contract to acquire 5% stake in Tianjin Pipeline Engineering Group Co., Ltd. from Tianjin Water Group Co., Ltd. on January 5, 2021. Shandong Donghong Pipe Industry Co., Ltd. has made a deposit of CNY 25 million on December 31, 2020. On December 22, 2020, Shandong Donghong Pipe Industry Co., Ltd. held the 7th Meeting of the 3rd Directorate, and approved bid and does not need shareholder approval. The transfer will be completed within January 1, 2021, to February 28, 2021.
Shandong Donghong Pipe Industry Co., Ltd. is a China-based company principally engaged in the research, development, production and sale of various types of plastic pipelines. The Company's main products include polyethylene (PE) steel pipe fittings, PE pipe fittings and plastic pipe fittings. The Company's products are mainly used in municipal infrastructure construction, gas, mining, chemical, power and heat and residential sectors. The Company distributes its products mainly in domestic market.
Shandong Donghong Pipe Industry Co., Ltd. won a bid to acquire 5% stake in Tianjin Pipeline Engineering Group Co., Ltd. from Tianjin Water Group Co., Ltd. for CNY 95.4 million.
SHANDONG DONGHONG PIPE INDUSTRY CO., LTD. 
