PILLAR TECHNOLOGY CO., LTD. announced that it has received CNY 11.952 million in funding from Nippon Pillar Packing Co., Ltd.
May 30, 2021
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PILLAR TECHNOLOGY (CHUZHOU) CO., LTD. announced that it will receive CNY 11,952,000 in an equity round of funding on May 31, 2021. The transaction included participation from Nippon Pillar Packing Co., Ltd. (TSE:6490) for 100% stake in the company. Pursuant to the transaction, the registered capital of the company has increased to CNY 38,442,000.
PILLAR Corp, formerly Nippon Pillar Packing Co Ltd, is a Japan-based company mainly engaged in the manufacture and sale of fluid control related equipment products, mainly PILAFLON products (fluororesin products), mechanical seal products, and gland packing and gasket products. The products are used in industrial fields such as semiconductors and liquid crystal, as well as electricity, petroleum, automobiles, chemicals, ships, civil engineering and construction, food, and pharmaceuticals. The Company operates through two business segments. The Electronic Equipment Related Business segment mainly produces and sells resin-related products such as PILAFLON products. The Industrial Equipment Related Business segment produces and sells mechanical seal products, gland packing and gasket products. The Company also operates office building rental businesses, insurance agency businesses, and electricity sales businesses.