Zhejiang Hailiang Co., Ltd. (hereinafter referred to as “Hailiang”) signed the Equity Asset Purchase Agreement with KME Group on January 28, 2019, and acquired three copper alloys held in Germany, France and Italy Rod production plants and two copper pipe production plants in Germany and Spain.
KME is one of the world’s largest manufacturers of copper and copper alloy products. It is a global leader in the copper processing industry. It has a good reputation in the global copper and copper alloy processing material market. Hailiang shares acquired all of KME’s subsidiaries. Copper alloy rod business and some copper tube business.
On March 31, 2019, the parties to this transaction jointly signed legal documents such as the “Delivery Memorandum”, and Hailiang Co., Ltd. paid all payments including the transaction consideration in accordance with the terms of the “Equity Asset Purchase Agreement”. Completion. From the date of completion, Hailiang will hold 100% of the KME Group’s five plants in Europe and related assets.
Hailiang has carried out various integration and docking work in an orderly manner according to the established plan. Through this merger and acquisition, Hailiang shares the technically achievable share with the acquisition target, accelerates the output of refined management experience, and continuously improves the operational efficiency of the acquisition target. At the same time, it can obtain high-end copper alloy rod manufacturing technology, seize the European high-end copper alloy rod market, and use the acquired target brands and channels to expand the European high-end market.