China Electric Motor (CELM) to Acquire 100% Interest in Shenzhen Guofa Optoelectronics
China Electric Motor Inc., a Delaware corporation and China-based company engaged in the design, production, marketing and sale of micro motor products, today announced that its indirect wholly owned subsidiary Luck Loyal International Investment Limited has entered into an Equity Transfer Contract with New-Metal (H.K.) Technology Limited. Per the agreement, Luck Loyal will purchase 100 percent of the equity interests of Shenzhen Guofa Optoelectronics Co. Ltd., a wholly foreign owned enterprise incorporated in China held by New-Metal, for approximately US$6.5 million. Through the deal, China Electric will acquire new production lines and expertise focused on high-end DC micro motors used…