Dajin Precision Electric Co., Ltd. announced that it has established a joint venture with Shenzhen Dongfang Optoelectronics Co., Ltd. to manage and manage energy-saving projects and LED lighting, as well as sales and marketing of LED lighting and other energy-saving products.
The company said that on January 18, 2010, Dajin Jingdian and Dongfang Optoelectronics, Zhu Jianqin and TC (BVI) have entered into an investment cooperation agreement and a supplemental agreement, pursuant to which, after the conditions precedent to the establishment of the joint venture company were fulfilled, the East Optoelectronics, Mr. Zhu and TC (BVI) have agreed to jointly establish a joint venture company (30%, 19% and 51% by Dongfang Optoelectronics, Zhu Jianqin and TC (BVI) respectively) to operate and manage energy-saving projects and LED lighting and sales and Market promotion of LED lighting and other energy-saving products.
After the completion of the conditions precedent of the acquisition, the company has agreed to acquire the 19% equity interest in the joint venture from Mr. Zhu at a consideration of HK$28,400,000. The consideration will be partially paid in cash (HK$10,000,000), in part for issuance and allotment. Payment by way of consideration of shares (HK$18,400,000).
The Group's establishment of a joint venture will further diversify the company's product range, improve its product mix and enhance its ability to resist risks and profitability.
Swimming Pool Heat Pump,SPA Heat Pump,Swimming Pool Pump
Lanhai Compressor Co., Ltd. , http://www.jhcompressor.com