It is reported that Jiangyin Zhongnan Heavy Industries Co Ltd plans to acquire 100% of Jiangsu Provinc -based Chinese company Jiangyin Chemical Machinery Co Ltd for a sum not exceeding CNY 135 million.

Jiangyin Chemical Machinery main activity is focused on the production of pressure vessels.

Officials at Zhongnan Heavy Industries stated that they intend to be more competitive in the pressure vessel market though this acquisition which will help them to increase their production capacity

(Sourced from MySteel.net)
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