Hunan SUND Technological (SHE:301548) will purchase a 100% stake in German rival Levicron for not less than 8.5 million euros, according to a Thursday filing with the Shenzhen Stock Exchange.3
The acquisition will help SUND expand to oil-free bearing products and air-floating spindle products from its current offering of oil-lubricated bearing products, the filing said.
Levicron will become a unit of SUND Technological, while SUND will retain Levicron's brand, staff, and platforms, the filing said.
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