Hunan Oil Pump Co., Ltd. agreed to acquire Suzhou Light Composite Materials Co., Ltd. from NST SUZHOU,LLC for CNY 150 million.
July 03, 2024
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Hunan Oil Pump Co., Ltd. (SHSE:603319) agreed to acquire Suzhou Light Composite Materials Co., Ltd. from NST SUZHOU,LLC for approximately CNY 150 million on July 2, 2024. A cash consideration of CNY 146 million will be paid by Hunan Oil Pump Co., Ltd. As part of the deal Hunan Oil Pump Co., Ltd. will use its own funds to fund equity investment of CNY 146 million. As of May 31, 2024, Suzhou Light Composite Materials Co., Ltd. reported total assets of CNY 134.93 million and total common equity of CNY 94.64 million.
The transaction has been approved by the Board of Directors of Hunan Oil Pump Co., Ltd.
Hunan Meihu Intelligent Manufacturing Co Ltd, formerly Hunan Oil Pump Co Ltd, is a China-based company principally engaged in the research and development, manufacturing and sales of engine pump products. The Company operates six segments, Diesel Engine Oil Pump segment, Gasoline Engine Oil Pump segment, Electric Motor segment, Transmission Pump segment, New Energy Vehicle Parts segment and Other segment. The Company's products mainly include engine pump products, transmission oil pumps, electronic pump products, motor products and intelligent driving execution layer control systems. The Company's products are used in fuel vehicles, new energy vehicles, generator sets, ship power and engineering machinery and other fields. The Company provides vacuum pumps, automated manufacturing equipment and related information and technical services, and is engaged in the research, development and production of gears, reducers and aluminum die castings.
HUNAN OIL PUMP CO., LTD. 
