On July 30, Asia Pacific Precision Alloy Technology Group, a leading manufacturer of precision aluminum tubes and microporous flat aluminum tubes in China, announced:
The company ("Party B") and Mitsubishi Aluminum Co., Ltd. ("Mitsubishi Aluminum" or "Party A", and Party B together referred to as "the parties") signed the "Equity Transfer Intention Agreement" on July 30, 2020. The company plans to Acquired more than 51% of the shares of SZLF Aluminum Co., Ltd. held by Mitsubishi Aluminum.
SZLF is a leading manufacturer specializing in the production of heat exchange aluminum microchannel flat tube extrusions, small high-precision aluminum extruded porous tubes, and its application fields are automotive air-conditioning parts, home air-conditioning parts and other industries.
The agreement is an intentional agreement, which aims to express the willingness and basic principles of both parties to acquire and transfer equity. The signing of the agreement is for the company and Mitsubishi Aluminum to cooperate more deeply and make full use of the high-performance microcomputers used in the thermal management system. The advantages of technical production capacity and market channels in the channel flat tube field have formed synergy and complementarity and resource integration, which will effectively seize the relevant market segments in the automobile, especially the new energy automobile field.