NEWLAND TO INVEST IN A GERMAN PRIVATE ENTERPRISE
AsiaInfo Services, November, 2003
AsiaInfo Services 11-25-2003 Newland to Invest in a German Private Enterprise CHINA, Nov 25, 2003 (SinoCast via COMTEX) -- Fujian Newland Science & Technology Group (Newland) (Shenzhen Stock Exchange: 000997) announced on November 21, it would spend USD 10 million on acquisition of 12% stock of a German private-owned enterprise. The German enterprise named JauchQuartzGmbH (JQG) is owned by Mr.
ThomasJauch. Founded in 2000, JQG engages mainly in the design, production, and selling of electronic components & devices. Its net assets were valued at EUR 64.8337 million (EUR 1 = USD 1.190), and before-tax net profit, EUR 4.5019 million in 2002. According to Newland, the move is targeted to optimize businessstructure and reduce operating risks by...
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