Joyou AG, a leading manufacturer of bathroom, kitchen and other faucets and a specialist in other sanitary ware products in China, intends to acquire a 100% stake in Yongsheng Galvanization Industrial Co. Ltd., a galvanization plant in the Shui Tou Galvanisation Industry Park in Nan?an, Fujian Province. The acquisition has been approved by the supervisory board and is expected to be completed within 1 month. The total investment volume of the acquisition amounts to EUR 12.2 million (RMB 106 million). As planned, Joyou will therewith invest parts of the proceeds of its IPO in order to expand the capacity of cmv genimdjk qonzplejyfsgq oyzva.
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