Tesla Motors Magnet Wire Supplier, CSJB Power Material Technology Group once again started the merger and acquisition mode, its wholly-owned subsidiary CSJB Magnet Wire Technology Company plans to use its own funds totaling 235 million yuan to acquire WXTL Electrical Materials through equity acquisition and capital increase 67.00% equity of Technology Co., Ltd.
This is another acquisition by CSJB following the acquisition of WHEX Magnet Wire Technology. The acquisition of WXTL is intended to strengthen the magnet wire business, which has the strongest profitability, and grab the UHV dividend supported by the new infrastructure.
Enhanced UHV product line
WXTL, the subject of this acquisition, was established in 2006 and is a company specializing in the production of new materials for winding wires in the fields of high-voltage and UHV transmission and transformation equipment, rail transit equipment, clean energy equipment, superconducting application equipment, medical equipment, new energy vehicles, etc. Manufacturer company.
WXTL’s customers include ABB, GE, Siemens, CRRC, Toshiba, TBEA, etc., and its overseas export share is close to 20%. Its products have been used in more than ten major domestic and foreign specialties such as the 1000kV UHV AC transmission of Anhui Power Transmission High-voltage engineering projects.
Public information shows that Tongli Electric's operating income in 2017, 2018 and 2019 were
CSJB Secretary-General Deng Shaokun introduced that WXTL is a powerful player in China's magnet wire industry, and its flat winding wire technology ranks first in China and top three in the world. It is the first drafting unit for the formulation of the national standard of "Transposed Conductors" (GB/T33597-2017). Its "Transposed Conductors for Traction Transformers for High-speed Trains" have realized import substitution, and the overall technology has reached the international advanced and domestic leading level.
At the same time, WXTL is one of the five UHV AC engineering magnet wire suppliers certified by the AC Construction Department of the State Grid Corporation of China, and has a prominent market position in the field of new infrastructure UHV transformers.