Hubei Dinglong to acquire Speed Infotech
June 21, 2019
In a notice posted on the Shenzhen Stock Exchange, Hubei Dinglong announced its intention to acquire a 59 percent stake in Speed Infotech (Beihai) Co., Ltd.
The announcement included a notice that share dealing in Hubei Dinglong would be suspended effective 19th June, as the company is planning the issue of shares to purchase assets, namely a 59 percent stake in Speed Infotech (Beihai) Co., Ltd. (Speed Infotech).
High market confidence – The Speed Infotech shareholders and the company have committed to an average annual growth rate of not less than 20 percent in the three years of 2019, 2020 and 2021.
According to the notice the purchase consideration is expected to be 20 percent as a cash payment and the remaining 80 percent as shares. The deal is likely to close by October 2019, following Hubei Dinglong shareholder and China Securities Regulatory Commission approval.
Share trading in Hubei Dinglong is expected to resume on 24 June.
Speed Infotech remanufactures printer consumables such as ink cartridges and toner cartridges and more recently has introduced a range of remanufactured multi-function printers.
In 2018 Speed Infotech partnered with French remanufacturer, Armor to reinforce their presence in the European inkjet cartridge production and collection market for retail customers. As part of the agreement, Speed Infotech is providing access to its ink cartridge production capacity according to Armor’s patent compliance, and quality requirements while Armor is contributing its Netherlands based Recoll BV, that manages the collection of empty cartridges.
Hubei Dinglong Co., Ltd., located in the Wuhan Economic and Technological Development Zone, China and designs, develops and manufactures imaging materials for both toner & ink products.
Colour chemical polymerised toner (CPT) is today a core product, and the company has many years of experience in charge control agents (CCA) colorants and special pigments for the OEM and aftermarket imaging industry.
Categories : City News
