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21.12.2010
Sino European Biotechnology AG announced: "SEB has been successfully involved in the two Emerging Industries in China, namely, bio-medical technology field and solar photovoltaic technology field."
Sino European Biotechnology AG announced: "SEB has been successfully involved in the two Emerging Industries in China, namely, bio-medical technology field and solar photovoltaic technology field."
Frankfurt, 20 December 2010 - Sino European Biotechnology AG (“SEB”, or “the Company”) (Symbol: P53.F) announced today that SEB has signed an Acquisition Agreement with JiangSu Chendian Solar Photoelectric Co., Ltd. (“JCSP”) in Nanjing city, China at October 30, whereby the Company will acquire 100% interest in JCSP by issuance of shares of SEB AG. The transaction is subject to successful regulatory approval.
JiangSu Chendian Solar Photoelectric Co., Ltd. (http://www.shcd-solar.com) is a professional company that specializes in solar photovoltaic products, to be specific, it gets involved in the research, development, production, sales, construction and services concerning solar cell components and products related to photovoltaic power generation system.
JCSP has a group of excellent high-tech talents. With advantages such as high efficiency, big power, and long service life, JCSP’s solar cell components are widely used in off-grid solar power station, on-grid solar power station, PV/Wind hybrid power station, and domestic solar system etc and warmly received by many countries in the world. JCSP has gotten actively involved in national Brightness Project, Rural Electricity Supply Project and Expo 2010 Shanghai.
The products of JCSP have obtained CE certification, RoHS certification, and ISO9001 Quality System Certification. Besides the domestic market, JCSP also attaches great importance to export and is striving to become important on the global market, with market share expansion being its main objective.
Significant highlights of JCSP acquisition include:
1). Rights to all the property, plant and equipment of JCSP including land of 150 Chinese acres, manufacturing plant, and manufacturing equipment.
2). Rights to the ownership of ten (10) solar photovoltaic products.
SEB will engage an independent third party valuator to complete the valuation of JCSP in determining a final purchase price. The deal is expected to be completed before July 2011.
SEB CEO David Yi Zhong Qi said, “We are very excited to have an agreement in place to acquire JCSP. This acquisition along with the acquisition of Zhongke Kangtai Bio-Tech Co., Ltd. – Shanghai Branch is the result of 5 months of diligent planning and negotiations. With the completion of these two acquisitions, it positions SEB has been successfully involved in the two emerging industries in China, namely, bio-medical technology field and solar photovoltaic technology field. “
“The third quarter of 2010 is not fully estimated, the two companies reached 30 million RMB in fixed assets, intangible assets reached 80 million RMB, sales of enterprise products over one hundred million RMB.”
“Next year, in 2011, the company will fulfill the legal formalities, according to the laws of China by the Chinese Government for foreign acquisition of Chinese company and/or Foreign Cooperation legal procedures, and then will be the project financing for the two Chinese companies.”
The above information is also available online. Please also visit www.sinoeurobio.com.
Information on the SEB AG: Sino European Biotechnology AG is a biotechnology company based in China. The company currently has been successfully involved in the two emerging industries in China, namely, bio-medical technology field and solar photovoltaic technology field.
Please note: This press release contains projections and forward-looking statements regarding future events. Forward-looking statements are statements that are not historical facts and are generally, but not always, through the words: ‘expects ‘,’ plan ‘,’ anticipates ‘, believes’, ‘intends’, ‘valued’, ‘predicts’, ‘potential’ and similar expressions identified, or the fact that events or conditions will occur ‘, ‘would’, ‘may’, ‘could’ or ’should’. Such forward-looking statements are not guarantees of future performance of the Company and are subject to risks and uncertainties that could cause actual results and company plans and objectives to differ materially from those expressed in the forward-looking statements. Such risks and uncertainties include, but are not limited to R&D progress, successes and continued availability of capital and financing, general economic, market or business conditions, regulatory and government approvals.
Investors are cautioned that such statements are not guarantees of future performance and that actual result or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on opinions, estimates and opinions of management at SEB AG to Date on which the statements are made. SEB AG does not have the obligation to update these forward-looking statements, should the views, estimates or opinions of management or other factors change. No regulatory authority has provided information as to the planned and proposed transactions expressed or the content of this press release approved or rejected.
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Frankfurt, 20 December 2010 - Sino European Biotechnology AG (“SEB”, or “the Company”) (Symbol: P53.F) announced today that SEB has signed an Acquisition Agreement with JiangSu Chendian Solar Photoelectric Co., Ltd. (“JCSP”) in Nanjing city, China at October 30, whereby the Company will acquire 100% interest in JCSP by issuance of shares of SEB AG. The transaction is subject to successful regulatory approval.
JiangSu Chendian Solar Photoelectric Co., Ltd. (http://www.shcd-solar.com) is a professional company that specializes in solar photovoltaic products, to be specific, it gets involved in the research, development, production, sales, construction and services concerning solar cell components and products related to photovoltaic power generation system.
JCSP has a group of excellent high-tech talents. With advantages such as high efficiency, big power, and long service life, JCSP’s solar cell components are widely used in off-grid solar power station, on-grid solar power station, PV/Wind hybrid power station, and domestic solar system etc and warmly received by many countries in the world. JCSP has gotten actively involved in national Brightness Project, Rural Electricity Supply Project and Expo 2010 Shanghai.
The products of JCSP have obtained CE certification, RoHS certification, and ISO9001 Quality System Certification. Besides the domestic market, JCSP also attaches great importance to export and is striving to become important on the global market, with market share expansion being its main objective.
Significant highlights of JCSP acquisition include:
1). Rights to all the property, plant and equipment of JCSP including land of 150 Chinese acres, manufacturing plant, and manufacturing equipment.
2). Rights to the ownership of ten (10) solar photovoltaic products.
SEB will engage an independent third party valuator to complete the valuation of JCSP in determining a final purchase price. The deal is expected to be completed before July 2011.
SEB CEO David Yi Zhong Qi said, “We are very excited to have an agreement in place to acquire JCSP. This acquisition along with the acquisition of Zhongke Kangtai Bio-Tech Co., Ltd. – Shanghai Branch is the result of 5 months of diligent planning and negotiations. With the completion of these two acquisitions, it positions SEB has been successfully involved in the two emerging industries in China, namely, bio-medical technology field and solar photovoltaic technology field. “
“The third quarter of 2010 is not fully estimated, the two companies reached 30 million RMB in fixed assets, intangible assets reached 80 million RMB, sales of enterprise products over one hundred million RMB.”
“Next year, in 2011, the company will fulfill the legal formalities, according to the laws of China by the Chinese Government for foreign acquisition of Chinese company and/or Foreign Cooperation legal procedures, and then will be the project financing for the two Chinese companies.”
The above information is also available online. Please also visit www.sinoeurobio.com.
Information on the SEB AG: Sino European Biotechnology AG is a biotechnology company based in China. The company currently has been successfully involved in the two emerging industries in China, namely, bio-medical technology field and solar photovoltaic technology field.
Please note: This press release contains projections and forward-looking statements regarding future events. Forward-looking statements are statements that are not historical facts and are generally, but not always, through the words: ‘expects ‘,’ plan ‘,’ anticipates ‘, believes’, ‘intends’, ‘valued’, ‘predicts’, ‘potential’ and similar expressions identified, or the fact that events or conditions will occur ‘, ‘would’, ‘may’, ‘could’ or ’should’. Such forward-looking statements are not guarantees of future performance of the Company and are subject to risks and uncertainties that could cause actual results and company plans and objectives to differ materially from those expressed in the forward-looking statements. Such risks and uncertainties include, but are not limited to R&D progress, successes and continued availability of capital and financing, general economic, market or business conditions, regulatory and government approvals.
Investors are cautioned that such statements are not guarantees of future performance and that actual result or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on opinions, estimates and opinions of management at SEB AG to Date on which the statements are made. SEB AG does not have the obligation to update these forward-looking statements, should the views, estimates or opinions of management or other factors change. No regulatory authority has provided information as to the planned and proposed transactions expressed or the content of this press release approved or rejected.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0042354727">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0042354727</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.