Zhejiang Crystal-Optech to Buy Controlling Stake in Optical Component Maker for 324 Million Yuan

MT Newswires Live

03-07

Zhejiang Crystal-Optech (SHE:002273) plans to acquire 95.6% of Guangdong Ecos Technology for 323.5 million yuan, according to a Shenzhen Stock Exchange filing on Friday.

Ecos Technology manufactures optical components and subassemblies.

The Chinese optics and optoelectronics manufacturer will acquire the stake from over 10 investors.

Following the transaction, Zhejiang Crystal-Optech will directly hold a 95.6% stake in Ecos Technology and indirectly own a 2% stake through its wholly-owned subsidiary Taizhou Chuangjin Enterprise Management.

The company's shares rose more than 2% in recent trade.

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