· China Southern CSR's subordinate new materials or completed the acquisition of ZF in August
According to a person from the Times New Materials Securities Department of CSR, “Times New Materials Co., Ltd. has acquired the entire asset business of the BOGE rubber and plastics business under the German ZFFriedrichshafenAG (ZF) Group for 290 million Euros (2.4 billion RMB). The approval process is expected to complete all acquisitions in August 2014."
In December 2013, Times New Materials, which was suspended for four months, announced the above-mentioned asset purchase plan. After the acquisition of BOGE by Times New Materials, the expansion of automotive rubber shock absorption business will be realized. BOGE specializes in high-end automotive rubber vibration-damping parts and precision injection-molded parts (automobile AVS), including rubber products and plastic parts. Among them, rubber vibration-damping products account for more than 90% of sales revenue. The products are mainly used in chassis, power system and commercial vehicles. BOGE's main customers are world-renowned automobile manufacturers, with customers such as Volkswagen, BMW and GM, ranking third in the global automotive vibration reduction field. The company will use BOGE's existing global layout (10 bases in 7 countries) to further build an international platform to enhance the international market share of new products.
The above-mentioned person of the Times New Materials Securities Department pointed out: "In addition, in order to improve the efficiency and efficiency of the use of raised funds, the company decided to use part of the idle raised funds issued in the 2013 allotment of 650 million yuan to supplement the working capital."
Times New Materials' 2013 share placement plan shows that the company plans to issue 144,080,652 shares of RMB common stock (A shares) at an issue price of 8.80 yuan per share, raising a total of 1.268 billion yuan, and net proceeds of 1.215 billion after deducting the issuance expenses. yuan. The above funds were all received on June 14, 2013. The company and the Bank of China Co., Ltd. Zhuzhou Branch Business Department, China Construction Bank Co., Ltd. Zhuzhou Tianxin Sub-branch, Industrial and Commercial Bank of China Co., Ltd. Zhuzhou High-tech Development Sub-branch, Industrial Bank Co., Ltd. Zhuzhou Branch signed the "raised funds account" Store the Tripartite Supervision Agreement.
Times New Materials said that the company raised funds of 1.215 billion yuan mainly for investment in high-performance insulation structural products industrialization projects, elastic vibration reduction and noise reduction products expansion projects, large-scale power transmission equipment composite materials, national and local joint engineering research center construction projects, special Polymer wear-resistant materials industrialization projects, etc. The period of raising funds is no more than 12 months, which is conducive to improving the efficiency of the use of raised funds, reducing financial expenses, and maximizing the interests of shareholders.
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