Milkyway Chemical Supply Chain Service Co., Ltd. agreed to acquire Shanghai Fractional Hazardous Chemicals Logistics Co., Ltd. from Shanghai Jingtong Chemicals Co Ltd. for CNY 140 million.
September 03, 2021
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Milkyway Chemical Supply Chain Service Co., Ltd. (SHSE:603713) agreed to acquire Shanghai Fractional Hazardous Chemicals Logistics Co., Ltd. from Shanghai Jingtong Chemicals Co Ltd. for CNY 140 million on September 2, 2021. After the completion of this acquisition, Fractional Logistics will become a wholly-owned subsidiary of Milkyway Chemical. Milkyway Chemical held the 36th meeting of the second board of directors on September 2, 2021, and reviewed and approved the "Proposal on the Proposal to Acquire 100% of Shanghai Fractional Hazardous Chemicals Logistics Co., Ltd. Shanghai Fractional Hazardous has a total assets of CNY 88.753041 million and net assets of CNY -10.599362 million on June 30, 2021.
Milkyway Intelligent Supply Chain Service Group Co Ltd, formerly as Milkyway Chemical Supply Chain Service Co Ltd is a China-based company which is mainly engaged in the provision of chemical supply chain services. The Company mainly provides one-stop integrated logistics services with freight forwarding, warehousing and transportation as the core for domestic and foreign chemical production enterprises and chemical consumer enterprises, including transportation, warehousing, freight forwarding, distribution, logistics processing, information services and others. The Company also provides chemical supply chain services for low-risk products such as paints, pesticides, polyurethane materials, electronic chemicals, lithium batteries, dyes and others. The Company provides its services in domestic market and to overseas markets.
Milkyway Chemical Supply Chain Service Co., Ltd. agreed to acquire Shanghai Fractional Hazardous Chemicals Logistics Co., Ltd. from Shanghai Jingtong Chemicals Co Ltd. for CNY 140 million.