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Addtech acquires Poryan China Company
Addtech Power Solutions, a business area within the Addtech Group, has signed an agreement to acquire 75% of the shares outstanding in Poryan China Company Ltd.
Poryan China Company Ltd provide component solutions and subsystems in circuit protection primarily to the train and signaling market in China.
Poryan will complement Addtech's current operations in the business unit Storage & Power. One of the existing companies in the business unit, Emcomp International AB, has similar business activities in Europe and Asia.
The closing is estimated to take effect in the beginning of April 2016. Derreck Lau, Managing Director of Poryan and one of the existing owners, will until further notice own the remaining 25% of the shares.
