Shandong Donghong Pipe Industry Co., Ltd. completed 40% stake in Tianjin Huashui Water Supply Construction Co., Ltd. from Tianjin Water Group Co., Ltd.
March 26, 2021
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Shandong Donghong Pipe Industry Co., Ltd. (SHSE:603856) won a bid to acquire 40% stake in Tianjin Huashui Water Supply Construction Co., Ltd. from Tianjin Water Group Co., Ltd. for CNY 58.4 million on December 25, 2020. On December 31, 2020, the parties signed Property Rights Transaction Contract. Shandong Donghong Pipe Industry Co., Ltd. has made a deposit of CNY 15,000,000, and within 5 working days after the contract signing, pay the remaining CNY 43,390,000. On December 22, 2020, Shandong Donghong Pipe Industry Co., Ltd. held the 7th Meeting of the 3rd Directorate, and approved participating in the bid. The transfer will be completed within January 1, 2021, to February 28, 2021.
Shandong Donghong Pipe Industry Co., Ltd. (SHSE:603856) completed 40% stake in Tianjin Huashui Water Supply Construction Co., Ltd. from Tianjin Water Group Co., Ltd. on March 27, 2021.
Shandong Donghong Pipe Industry Co., Ltd. is a China-based company principally engaged in the research, development, production and sale of various types of plastic pipelines. The Company's main products include polyethylene (PE) steel pipe fittings, PE pipe fittings and plastic pipe fittings. The Company's products are mainly used in municipal infrastructure construction, gas, mining, chemical, power and heat and residential sectors. The Company distributes its products mainly in domestic market.
Shandong Donghong Pipe Industry Co., Ltd. completed 40% stake in Tianjin Huashui Water Supply Construction Co., Ltd. from Tianjin Water Group Co., Ltd.
SHANDONG DONGHONG PIPE INDUSTRY CO., LTD. 
