News Column

Zhejiang Yilida Plans to Buy 51% of Maer Wind Turbine

July 31, 2014

TAIZHOU, July 31, SinoCast -- Zhejiang Yilida Ventilator (SZSE: 002686) plans to acquire 51% of Zhejiang Maer Wind Turbine with self-owned CNY 56.1 million. After the deal, Maer will become a holding subsidiary of Yilida.

Maer has about 20 years of experience in motor and wind turbine production. Operating revenue and net profit for January to June 2014 and 2013 each was about CNY 36.68 million, CNY 780,600, CNY 44.09 million and CNY 3.11 million.

Yilida forecasted net profit attributable to shareholders for January to September ranged from about CNY 62.39 million to CNY 83.19 million, up negative 10% to 20% driven by sharply increased export business and wind turbines for central air conditioners.

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Source: Sinocast Machinery & Industrial Goods Beat (China)

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