Bo Shen Tools (002282) 17th released the news that the company recently with the German Prewi Schneidwerkzeuge Gmbh (hereinafter referred to as "Germany Prewi") signed a purchase contract, the acquisition of its own Prima high (Shanghai) Machinery Tools Manufacturing Co., Ltd. (hereinafter referred to as " Shanghai Prima High ") 60% equity. The agreement entered into force on May 15, 2010. According to the introduction, Bo deep tools in Germany this April 24 in the German city (Herford) and Germany Prewi signed a purchase contract, to 600,000 euros for the purchase of Germany Prewi held by the Shanghai Prima High 60% of the stake. In addition, the company has to prima the Shanghai high cost of 300,000 euros of capital and equipment. Prior to the acquisition, the German Prewi held a 100% stake in Shanghai Prima. And after the completion of the acquisition, Shanghai Prima will be changed from a German-owned enterprises to Sino-German joint ventures, the company holds its 60% per cent equity, the German Prewi holds its 40% stake.
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