Sinochem wholly owned subsidiary intends to purchase part of Nixon for 52 million yuan

SMM News: Han Cable shares announced on April 30, in order to promote the development of the company's industry, promote the company's business layout, and further improve the profitability of the company, subsidiary Jiaozuo Hanhe Cable Co., Ltd. and Nixon (Yanggu) New Rihui Cable Co., Ltd. signed a "Framework Agreement" to purchase part of Nixon's construction (structure), machinery and equipment, land use rights and other assets for 52 million yuan.

The announcement shows that (Nexans Participations), a Nixon holding company, is an overseas company established in France, directly holding 100% equity interest in Nixon, and is the controlling shareholder and actual controller of Nixon, mainly engaged in wire and cable accessories development, manufacturing, sales and installation services and related production technology development, technical training, technical services and so on. As of the announcement date, Liaocheng new cable is in the process of being set up.

After the completion of the acquisition, Han Cable shares will further improve the production capacity in the field of high voltage and ultra high voltage cables, which will help to improve the competitiveness of the company in the field of high voltage and ultra high voltage cable technology and promote the implementation of the company's strategic development goals. The foreign investment of Hantau shares has positive significance and promoting effect on the future development of the company, and helps to enhance the core competitiveness and profitability of the company.

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