Ganzhou Achteck Tool Technology Co., Ltd. announced that it has received CNY 400 million in funding from Chongyi Zhangyuan Tungsten Co., Ltd.
January 08, 2014 at 09:30 am IST
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Ganzhou Achteck Tool Technology Co., Ltd. announced that it will receive CNY 400 million in a round of funding from existing investor Chongyi Zhangyuan Tungsten Co., Ltd. on October 26, 2013. The company will issue equity securities in the transaction. The transaction was approved at the 26th session of the 2nd directorate meeting of the investor. The investor shall continue to hold a 100% stake in the company.
On January 8, 2014, Ganzhou Achteck Tool Technology Co., Ltd. closed the transaction.
CHONGYI ZHANGYUAN TUNGSTEN CO., LTD. is a China-based company, principally engaged in the mining, smelting and deep processing of non-ferrous metals. The Company's main products include ammonium paratungstate (APT), tungsten oxide, tungsten powder, tungsten carbide powder and tungsten carbide, among others. It owns right of exploring and mining mines, as well as tungsten smelting and deep processing factories. The Company distributes its products in domestic and overseas markets.
CHONGYI ZHANGYUAN TUNGSTEN CO., LTD. 
