Chongqing Zaisheng Technology Corp. Ltd. [SHG:603601], a new material technology company, will invest EUR600,000 (USD670,000) to acquire 25 percent stake in an Italian air purification company, which will help it explore the cutting-edge technology market overseas.
The company has signed an agreement with Fabrio Ltd. of Italy to introduce outdoor air purification technology into Zaisheng’s products range, said a company statement.
The announcement mentioned that Fabrio is a renowned company in air filtration industry in Europe, it said, adding that, with its key technical staff involving infiltration industry for more than two decades, the company is equipped with both the indoor and outdoor air filtration technologies. Fabrio also has research and development strength for core technologies with many achievements in cutting-edge technologies like outdoor air filtration, filtration for industrial and business applications and new filtration materials, the statement added.
Zaisheng Technology is manufacturer of microfiber glass wool products, which are widely used in such areas as air filtration, energy conservation and insulation, publicly available information shows. By acquiring Fabrio, Zaisheng Technology can import advanced technologies to solve the problem of outdoor haze in China, which also lays a foundation for the international layout of the company, it said.
Source: yicaiglobal.com
