Toner Giant to Purchase Three Companies

Chemical color toner giant applies for delay of trading resumption while preparing to acquire three companies.

Hubei Dinglong Chemicals Co, Ltd. (Dinglong, China), a leading producer of charge control agents (CCAs) and chemical color toners, has announced it is on the way to acquire three companies by means of share issue, cash or both combined. Since the restructuring involves complicated work and procedures, Dinglong has applied for delay of trading resumption.

In November, Dinglong released Suspension Notice on Important Issues and Suspension Notice on Major Asset Restructuring, announcing it would purchase assets and raise supporting funds. Currently the company’s business scope covers consumables for printers and copiers, semiconductor materials, digital graphic printing and cloud printing system. The acquisition targets related businesses in the three companies, at a predicted transaction amount of RMB 800-1,000 million (US$123.44-154.3 million).

At this stage, all parties concerned have signed Agreement on Cooperation Framework with investigation, audit and evaluation upon the target companies underway. Detailed information is not yet disclosed.

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