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Shenyang Sunnyjoint Chemicals Co.,Ltd

Tel: +86-24-88419556

Email: info@rubberchemical.cn

Wechat: ZY15840488152 

Add: No.145 Dongling Road, Shenhe District, Shenyang, Liaoning Province

With 1.2 Billion Acquisitions, This Rubber Company Has Entered A New Field!
Jan 11, 2019

Recently, Tianjin Pengyi Group Co., Ltd. released official news, the company will acquire another rubber company, Hebei New Europe Auto Parts Technology Co., Ltd., in cash and issue share payment. The latter's main business is the whole car. Sealing strip production, etc., the total amount of this transaction is 1.2 billion yuan.

According to Peng’s shares, it will purchase 51% of the shares of New Europe Technology’s shareholders, Euro-Asia Group and Song Jinhua, in cash, with a transaction amount of 612 million yuan. The way to issue shares and cash for the above shareholders Purchased the remaining 49% of the shares of New Europe Technology, of which, the cash paid was 108 million yuan, and the number of shares issued was 69.767 million shares.

According to insiders, the main business of Pengyi has been the research and development and production of fluid pipelines for automobiles. However, it has established a production subsidiary in March 2017 for the entry of sealing components. I am optimistic about the better profitability and market share of New Europe Technology.

The person in charge of the company said that New Europe Technology (European Group before 2018) has been focusing on the automotive sealing strip business, which ranks around 10~15 in the whole industry, ranking among domestic seal companies. Among the top 5, the company's major customers include some of the largest domestic domestic automakers, such as Changan Automobile, Dongfeng Group and FAW Group.

After the completion of the transaction, automotive fluid pipelines and automotive seals will become the two main products of Pengyi. The new European technology is conducive to the company's industrial upgrading and improve its comprehensive competitiveness in the auto parts industry. Realize the synergy and linkage development between the industrial chains.

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