SOURCE: Huazhang Technology Holding Limited

Huazhang Technology Holding Limited

May 23, 2017 05:59 ET

Huazhang Technology will acquire logistics and warehousing business in Guangdong Intends to become a one-stop paper service provider

HONG KONG, CHINA--(Marketwired - May 23, 2017) - Huazhang Technology Holding Limited ("Huazhang" or the "Group") (HKSE: 1673) is pleased to announce that, the Company will acquire the entire direct equity interest of Fu An 777 Logistics Limited ("Fu An 777"), logistics and warehousing company in Yangjiang City, Guangdong Province. The Vendors are Independent Third Parties.

Fu An 777 is mainly engaged in logistics and warehousing business. It is constructing a logistics and warehouse centre in Yangjiang City, Guangdong Province, which can provide bonded logistics services, including raw materials, equipment and supplies for papermaking enterprises. Huazhang intends to become a one-stop paper service provider through the potential acquisition.

Mr. Zhu Gen Rong, Chairman of Huazhang, said, "In view of the Guangdong Province is one of important base of the paper industries in China and has more than 100 papermaking enterprises. Through the acquisition of the Targeted Group, it will help strengthen the Group's after-sales and maintenance services and establish a one-stop integrated service platform through further integration of internal resources, to promote all-rounded services to papermaking enterprises."

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.

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