CGN Nuclear Technology Development Co., Ltd, (CGNTD) announced that it has invested 106.7 million yuan, with its wholly-owned subsidiary * CGN Dasheng Accelerator Technology Co., Ltd. as the main investment entity by the means of stock acquisition and capital increase to obtain 60% stock rights of * Yangzhou Xi-Qi-Te Electric Co., Ltd (Xi-Qi-Te).
According to the announcement, the most important products of Yangzhou Xi-Qi-Te are mica tape and flame-retardant tape, and other copper strips, which are incidental products produced to meet the needs of some large customers. Among them, the total amount of sales of fire-resistant mica tape, halogen-free low-smoke high-flame-retardant tape and flame-retardant filling materials has been among the top in the domestic market for many years.
CGNTD stated that Xi-Qi-Te’s mica tape business is consistent with the target customers of CGN’s Cable Radiation Business. The acquisition will further expand the company’s mica tape business capacity, and enrich product categories as well as expand market share.
Mica tape products are widely used in high-rise buildings, subways, large power stations and important industrial and mining enterprises and other places related to fire safety. It sees an extremely large market demand and broad application prospect.
* Yangzhou Xi-Qi-Te Electric Co., Ltd. is a national high-tech enterprise engaged in the research and development and manufacture of cable materials. The company occupies an area of nearly 160,000 square meters and has more than 200 employees, including 72 professional and technical personnel.
*CGN Dasheng Accelerator Technology Co., Ltd. is a comprehensive nuclear technology application high-tech company specializing in the production and sales of electronic accelerators, irradiation processing, high-tech materials, and electron beam radiation applications. It is China’s only director in International Irradiation Association (IIA).
NβN tip: Mica tape products are widely used in places related to fire safety. It sees an extremely large market demand and broad application prospect, except for nuclear industry.
