Zhejiang Meili High Technology Buys Spring Manufacturer's Assets for 8 Million Euros

MT Newswires Live

Dec 13, 2024

Spring manufacturer Zhejiang Meili High Technology (SHE:300611) subsidiary Meili Germany purchased assets related to AHLE's business for 8.1 million euros via auction.

The assets included plant buildings, production equipment, inventory, intangible assets and contract rights, according to a Friday filing with the Shenzhen bourse.

The purchase of AHLE-which produces automotive suspension springs, brake chamber springs and return springs-is synergistic with the company's main business.

Shares of Zhejiang Meili High Technology closed 7% lower Friday.

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