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Hunan Nonferrous Metals announced on the evening of December 15 that the company's subsidiary Zhuzhou Cemented Carbide Group Co., Ltd. acquired 48.5 million shares of Zhuzhou Diamond Cutting Tool Co., Ltd. for 195 million yuan, accounting for 19.4% of Zhuzhou Diamond's share capital.
Zhuzhou Cemented Carbide has held 112 million shares of Zhuzhou Diamond before the acquisition, accounting for 44.75% of its total share capital. Zhuzhou Diamond's main business is the manufacture of metal and alloy products.
Hunan Nonferrous acquired 19.4% stake in Zhuzhou Diamond