Western Metal Materials Co., Ltd. agreed to acquire 10.926% stake in Western Titanium Industry Co., Ltd. from Beibing Technology Investment Co., Ltd.
February 03, 2021
Share
Western Metal Materials Co., Ltd. (SZSE:002149) agreed to acquire 10.926% stake in Western Titanium Industry Co., Ltd. from Beibing Technology Investment Co., Ltd on February 3, 2021. Western Titanium Industry Co., Ltd. reported total assets of CNY 1.7 billion, net assets of CNY 125.8 million and net profit of CNY 14.6 million as of September 30, 2020. The transaction has been approved in 10th meeting of the seventh directorate held on February 3, 2021.
WESTERN METAL MATERIALS CO., LTD is a China-based company primarily engaged in the research and development, manufacture and sales of rare metal products. The Company provides rare metal clad materials and products, titanium products, metal fibers and products, refractory metal products, tungsten-molybdenum materials, as well as precious metal products and others. The Company is also engaged in the rare metal testing and processing business. The Company distributes its products in domestic market and to overseas markets.
WESTERN METAL MATERIALS CO., LTD. 
