Titan Petrochemicals Acquires Jiangsu Hongqiang Heavy Industry


Via splash247.com

Titan Petrochemicals has entered into a sale and purchase agreement with Sino Team Investment Development for the acquisition of Gold Dragon Enterprise Development for HK$21m ($2.7m) in a cash plus shares deal.

Following the completion of the acquisition, Gold Dragon, which indirectly controls full equity of Jiangsu Hongqiang Heavy Industry, will become a subsidiary of Titan Petrochemicals.

Nantong-based Jiangsu Hongqiang Heavy Industry is a shipyard mainly engaged in the business of shipbuilding and manufacturing of steel structures.


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