HONG KONG--(BUSINESS WIRE)--Huazhang Technology Holding Limited (“Huazhang” or the “Group”, stock code: 1673) is pleased to announce that, Zhejiang Huazhang Technology Limited, an indirectly wholly-owned operating subsidiary of the Company, entered into a LOI with a third party, in relations to the Possible Acquisition of headbox business in the PRC.
Mr. Zhu Gen Rong, Chairman of Huazhang, said, “Upon completion of the Possible Acquisition, it is believe that the Group will have synergy between our existing products and headbox, as well as to diversify our products and to own one of the core technologies of paper making production equipment, which in terms will benefit our overall business development.”
About Huazhang Technology Holding Limited
The Group is principally engaged in research and development, manufacture and sale of industry automation systems, sludge treatment products and corresponding services. The Group’s industrial automation systems and sludge treatment products are custom-built in accordance with the specifications and requirements provided by the Group’s customers. The Group is also engaged in the provision of after-sales and other services Group’s existing customers.