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Heng E Da: Completion of the acquisition and asset transfer related to SMS Maschinenbau GmbH
Heng Er Da announced that the target assets stipulated in the “Asset Purchase Agreement” signed with German SMS Maschinenbau GmbH have been fully delivered. According to the “Land Registration Change Announcement” issued by the local real estate registration authority in Germany, the land and properties under SMS Maschinenbau GmbH have been transferred to the company’s wholly-owned subsidiary in Germany, SMS Precision Machines GmbH. The transaction price is 8.5 million euros, involving the acquisition of high-precision CNC grinding machine business and related assets.