Hengerda New Materials Fujian (SHE:300946) acquired 8.5 million euros of core assets from German grinder maker SMS Maschinenbau.
The deal includes equipment, IP, contracts, and staff, and will be executed via the metalworking machinery maker's German subsidiary, according to a filing with the Shenzhen bourse.
Aimed at boosting high-precision computer numerical control and rolling component capabilities, the move supports the company's strategy to expand its intelligent manufacturing portfolio.
The acquisition is subject to regulatory approvals.
Shares of Hengerda New Materials Fujian jumped 20% in recent trade.
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