Shanghai Titan Scientific to Buy Central Glass' UK Chemical Manufacturer; Shares Up 3%
MT Newswires Live
Jul 24
Shanghai Titan Scientific (SHA:688133) plans to fully acquire UK-based chemical supplier Apollo Scientific for 5.8 million British pounds, according to a Shanghai bourse filing on Thursday.
Apollo Scientific will be bought from its Japanese parent, Central Glass (TYO:4044).
The Chinese scientific reagents manufacturer said the acquisition will diversify its product lines, such as organic and inorganic compounds, as well as gain access to overseas sales channels.
Shanghai Titan Scientific's shares jumped over 3%, while Central Glass' shares rose over 1% during midday trade.
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