Conch New Material's subsidiary plans to acquire 80% equity of Corning and 100% equity of Corning Engineering Company to expand production capacity
Conch New Material's subsidiary Anhui Conch Environmental Technology Co., Ltd. plans to acquire 80% equity of Corning Specialty Materials and 100% equity of the engineering company held by Corning Energy, with a total transaction price of 185.55 million yuan. This acquisition will expand SCR denitration catalyst production capacity, enhance competitiveness in the central market, and promote high-quality development
According to the announcement from Conch New Material (000619.SZ), the company's controlling subsidiary Anhui Conch Environmental Technology Co., Ltd. (referred to as "Conch Environmental") intends to acquire 80% equity of Henan Coning Special Environmental Technology Co., Ltd. (referred to as "Coning Special") held by Zhengzhou Corning Energy Co., Ltd. (referred to as "Corning Energy") and 100% equity of Zhengzhou Coning Special Environmental Engineering Technology Co., Ltd. (referred to as "Engineering Company") held by Corning Energy, with a total transaction price of 185.55 million yuan.
The announcement stated that given the mature and reliable production technology of Coning Special's honeycomb catalyst, which has a certain market foundation, and the Engineering Company's qualifications in environmental engineering Class A design and environmental protection professional Class 1, the company's acquisition of Coning Special and the Engineering Company is beneficial for further expanding the production capacity of SCR denitrification catalysts, enhancing the company's market competitiveness in the central region, extending and expanding the denitrification engineering industry, and promoting the high-quality development of the company's SCR denitrification catalyst industry
