China Glass fiber additional 2.9 billion yuan to buy 49% stake in Boulder Group

September 27, China glass fiber (600176), the largest manufacturer of fiberglass and its products.　　SH) issued a public announcement that the company intends to issue 2.94 billion yuan for the purchase of the remaining 49% of the Boulder group.　　The Non-public offering price of 19.03 yuan/share, the number of additional shares of 150 million shares, China glass fiber to China's building materials (03323.HK), vibration stone Group, Jean into the international and Sorrest directional additional number of 36.23 million shares, 34.65 million shares, 58.28 million shares and 25.2 million shares.　　China building materials, Zhenhua Group, Jean-Cheng International and Soaries and committed to three years does not transfer additional shares held.　　According to the announcement, as of June 30, China fiberglass to purchase the target assets of Boulder Group's parent company 49% Equity book net worth of 1.63 billion yuan. Prior to the release, China Fiberglass Holdings 51% stake in the Boulder group, China Building Materials, Zhenhua Group, Jean-Cheng International and soaries respectively holding the Boulder group 11.5%, 11%, 18.5%, 8% of the shares, after the completion of the transaction, China fiberglass will hold the Boulder group 100% Equity.　　At the same time, China's building materials, vibration stone Group is still the first two major shareholders of China fiberglass, and Jean into the international, Sorrest will become its third and fourth largest shareholder.　　China Glass Fiber said that the release is to further build China's fiberglass business in the area of competitiveness, bigger and stronger glass fiber industry, highlighting the main business of China fiberglass.　　The company's main business is the production and sale of fiberglass and its products, the largest production scale, the world's leading, and its main business income and net profit contribution to China's glass fiber more than 90%.　　This transaction constitutes an affiliated transaction, which is subject to the approval of the shareholders ' meeting, SASAC, Mofcom and CSRC. According to Chinese building materials, vibration stone Group, Jean-Cheng International, Sorrest and China Fiberglass signed the agreement on profit compensation, if the Boulder Group 2010, 2011, 2012, the owner of the parent company's net profit has not reached 360 million yuan, 5.4　　Billion and 770 million yuan, forecast the difference between the profit and the actual profit the Chinese building materials, Zhenhua Group, Jean-Cheng International, Sorrest will be according to the original shareholding ratio of the Boulder Group to calculate the number of shares compensation to the company compensation. September 21, China glass Fiber issued a notice that the EU to the company's holding subsidiary of Boulder Group Co., Ltd. and other major fiberglass enterprises related to the relevant products levied 43.6% of the provisional anti-dumping duties, the company 2009 exports to the European Union glass fiber products sales amount to about 40.58 million U.S. dollars, Accounting for the company's annual operating income of 8.7%. The company expects exports to the EU market to decline slightly in the near future.