Acquisition of Chongqing Wansheng all shares of Fu Yiu Glass fast car-grade glass

Fu Yiu Glass announced today, the company through three of the purchase of equity, a total of 157 million to buy Chongqing Wansheng Float Glass Co., Ltd. 100% stake, into under its command. The acquisition, Fu Yiu Glass itself 118 million, the acquisition of Chongqing Yu Min Yang Trading Co., Ltd. Chongqing Wansheng 8.33% shareholding and Citi-merit 2¥q held in Chongqing Wansheng 66.67% Equity,　　And the wholly-owned subsidiary of Fu Yiu (Hong Kong) Co., Ltd. 39.22 million of the acquisition of Chongqing Yu Min Yang held Chongqing wansheng 25% stake in Chongqing Wansheng after the transaction will be changed to a wholly owned subsidiary company. Chongqing Wansheng registered capital of 150 million yuan, business scope for the day melting 600 tons of high-quality float glass production, output transparent and body coloring glass, special glass, special varieties such as glass production, deep processing of flat glass and its technical development, as well as sales of the above products.　　But is still in the preparation period.　　The company said that the transaction allows the company to quickly realize the production capacity of automotive float glass, ease the company's automotive float glass external procurement pressure, and better promote the company's automotive glass industry development. In addition, the announcement also disclosed that, as the company issued short-term financing vouchers in 2009 is about to expire, the company intends to continue to the Bank of China market dealers in 2010 to apply for a renewal of not more than 1.3 billion yuan short-term financing coupons.