Jiangsu Pacific Precision Forging (SHE:300258) plans to establish a joint venture, Jiangsu Pacific Joint Electric Drive Technology, with Tianjin Armsun Automation Technology, according to a Monday filing with the Shenzhen bourse.
Jiangsu Pacific Precision will hold a 90% stake with a 90 million yuan investment, while Tianjin Armsun will contribute 10 million yuan for a 10% share.
The board approved the investment on March 16.
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