Zoomlion Announces the Disposal of its Remainder 20% Stake in its Environmental Equipment Arm
Zoomlion and the other shareholders of Changsha Zoomlion Environmental Industry Co., Ltd, have announced that they will dispose of 100% of the company to Infore Environment Technology Group, or IET, for CNY 15.25 billion, which will be settled via new shares of IET. Based on Zoomlion's ownership of a 20% stake in the company, it will be getting 399 million shares, or a 12.6% stake (worth CNY 3.05 billion) in IET, a provider of online pollution monitoring equipment, environmental treatment soluti...Zoomlion Heavy Industry Science And Technology Co., Ltd. is principally engaged in the research, development, manufacture and sales of engineering equipment, environmental sanitation equipment and agricultural equipment. The Company operates through four segments. The Engineering Equipment segment includes concrete equipment, lifting equipment, earthmoving equipment, foundation construction equipment, road construction equipment and forklifts, which mainly serve the construction of infrastructure and real estate. The Environmental Industry segment is engaged in the production of sanitation equipment, as well as environmental management investment and operating business. The Agricultural Equipment segment consists of farming machinery, harvesting machinery, drying machinery and agricultural machinery, among others. The Financial segment provides financial leasing and other financial services.
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