Shanghai Mechanical and Electrical Industry Co., Ltd. (600835.SH) Tuesday said it would purchase 100 percent shares of Swiss-based environmental technology and service company Clean Technology Universe AG (CTU).
Shanghai Mechanical and Electrical Industry Co. plans to pay 3.712 Swiss Francs or 24.4 million yuan for the deal. CTU recorded 162,000 Swiss Francs and 177,000 Swiss Francs of losses in the first half of 2015 and the whole year of 2014, respectively.
Shanghai Mechanical and Electrical Industry Co. said it would take a step forward in expanding businesses and adjusting operation structure through the acquisition.
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