Flat Glass to Buy Remaining Stake in Shanghai Fulai Ruicheng New Materials

MT Newswires Live

Aug 05

Flat Glass Group (HKG:6865, SHA:601865) agreed to acquire the remaining 60% equity interest it does not own in Shanghai Fulai Ruicheng New Materials from Jiaxing Yihe Investment for 60 million yuan.

The acquisition will give the company, which already owns 40% interest in the target, complete control over it and the ability to steer its R&D priorities, market strategies, and resource deployment.

Shanghai Fulai Ruicheng New Materials engages mainly in the R&D and promotion services of new material technologies, as well as sales of glass and optical products and materials and non-metallic minerals and products.

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