Suzhou Changfeng Avionics, a unit of AviChina Industry & Technology (HKG:2357) held through AVIC Airborne Systems (SHA:600372), has agreed to acquire certain assets from AVIC Wuxi Radar Technology for around 63.7 million yuan, a Friday Hong Kong bourse filing said.
The assets comprise certain buildings used for industrial purpose, structures, and equipment assets with a book value of roughly 39 million yuan.
The move comes about in order to boost the production capacity of high-end manufacturing and civil aviation new industries of Suzhou Changfeng Avionics.
AVIC Wuxi Radar Technology is a unit of AVIC Airborne Systems Company, which is AviChina Industry & Technology.
Shares of Chinese civil aviation products manufacturer AviChina Industry & Technology were down nearly 3% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.