Inner Mongolia First Machinery Group Corporation cancelled the acquisition of 66.82% stake in Inner Mongolia FIRMACO FLOURISH Forging Co., Ltd. from Baotou Beifang Chuangye Co., Ltd..
January 24, 2015 at 11:00 pm
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Inner Mongolia First Machinery Group Corporation agreed to acquire 66.82% stake in Inner Mongolia FIRMACO FLOURISH Forging Co., Ltd. from Baotou Beifang Chuangye Co., Ltd. (SHSE:600967) on August 23, 2013. The consideration consists of all civilian assets related to the railway vehicle business of Branch 1 Company, assets of the 80% stake in Branch 6 Company, and some of the assets used for military production line technological transformation invested by Inner Mongolia First Machinery Group Co., Ltd. in Baotou Beifang Chuangye Dacheng Equipment Manufacturing Co., Ltd. As of July 31, 2013, the net asset of FIRMACO Forging Company is CNY 383.95 million. On August 23, 2013, Board of Directors of Baotou Beifang Chuangye Co., Ltd. approved the transaction. As of On July 7, 2014, the transaction was approved by Board of Directors of Baotou Beifang Chuangye Co., Ltd. Shareholders of Baotou Beifang Chuangye Co., Ltd. approved the transaction on July 25, 2014.
Inner Mongolia First Machinery Group Corporation cancelled the acquisition of 66.82% stake in Inner Mongolia FIRMACO FLOURISH Forging Co., Ltd. from Baotou Beifang Chuangye Co., Ltd. (SHSE:600967) on January 25, 2015.
Inner Mongolia First Machinery Group Co Ltd is a China-based company engaged in the research and development, manufacturing, and sales of military products. The Company's main products are special equipment products. The Company mainly develops and produces tracked, wheeled, and artillery armored vehicles. The Company's railway vehicles mainly produce gondola cars, tank cars, flat cars, box cars, hopper cars, special cars, and other complete products. The Company's vehicle parts and components mainly produce parts with the core of vehicle transmission, movement, suspension, and large-scale precision structural parts, including heavy-duty brakes, springs, railway vehicle bolsters, side frames, buffers and other products. The Company distributes its products within the domestic market and to overseas market.
Inner Mongolia First Machinery Group Corporation cancelled the acquisition of 66.82% stake in Inner Mongolia FIRMACO FLOURISH Forging Co., Ltd. from Baotou Beifang Chuangye Co., Ltd..
INNER MONGOLIA FIRST MACHINERY GROUP CO.,LTD. 
