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NorthGlass Merged the Business of DongGuan Henghechang, Expanding Her Business to Consumer Electronics Market

Source:Northglass Date:2017-1-10 16:38:27

 

On 7th, Jan., 2017, NorthGlass announced: Luoyang North Glass Technology Co., Ltd. signed <Acquisition Agreement> with Dongguan Henghechang Glass Co., Ltd. and three natural persons: Hou Xuedang, Shang Zhifang and Li Zhaomi, establishing a new company called “Guangdong NorthGlass Electronic Glass Co., Ltd..  NorthGlass planned to use her own funds to purchase 51% of stock equity of the new company.

 

 
Dongguan Henghechang Glass Co., Ltd. owns internationally advanced technology in electronic glass and touch-control industry and plays leading role in partial market. After NorthGlass’s acquisition, the new company will mainly engage in the R & D, production and sales of special glass, touch-control glass as well as electronic glass.
 
The announcement said that this acquisition and cooperation will benefit the industry chain extension of glass processing to not only produce oversize high-strength and energy-saving architectural glass and auto glass, but also start the R & D of full-size ultra-thin, high- strength and multi-functional electronic glass, building a new win-win relationship by virtue of mutual promotion, collaborative R & D and complementary advantages. This business’s integrative recombination will play a positive role in promoting the equipment R & D ability and automation level as well as the development of new technologies and new processes in the domestic electronic glass processing industry.
NorthGlass’s new investment this time will have a positive impact on both of her financial and business performances.       
The company’s transformation and upgrading will be beneficial for NorthGlass to speed up her business expansion in new emerging industry of glass processing. In 2015, NorthGlass established Shanghai North Glass Automation Technology Co., Ltd., and merged Shenzhen Juisun Screen Printing Machinery Co., Ltd., opening a new chapter in glass deep processing industry 4.0. Furthermore, NorthGlass also set up a industrial investment fund and expand her investment to such new material industry as energy-saving and eco-friendly material industry. In 2016, NorthGlass injected capital into Beijing Huierjiu Material Technology Co., Ltd., who engaged in producing recyclable SiNest material, which can be used as green architectural and industrial material.
 
This acquisition of Dongguan Henghechang Glass Co., Ltd. is a further move of NorthGlass’s industry chain, which will bring positive synergistic effect together with her existing business. All these business together will has positive significance to promote NorthGlass’s new technologies.   

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