CLEANTECH SOLUTIONS INTERNATIONAL, INC. (NASDAQ:CLNT) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition of Assets.
On December 8, 2017, Cleantech Solutions International, Inc. (the “Company”) wholly-owned subsidiary, EC Technology & Innovations Limited (“ECTI”), closed the transactions contemplated by the Sale and Purchase Agreement (the “Agreement”) entered into with the shareholder of Inspirit Studio (“Inspirit”), to acquire 51% ownership of Inspirit in consideration for HK$3.0 million, which was satisfied by the allotment and issuance of 85,473 shares of the Company at a price of $4.50 per share.
About CLEANTECH SOLUTIONS INTERNATIONAL, INC. (NASDAQ:CLNT)
Cleantech Solutions International, Inc., through its subsidiaries, manufactures and sells textile dyeing and finishing machines and sells forged products and fabricated products to a range of clean technology customers, including high precision forged rolled rings and related components for the wind power industry and other industries. The Company operates through three segments: dyeing and finishing equipment segment, forged rolled rings and related components segment, and petroleum and chemical equipment segment. Through its dyeing and finishing equipment segment, the Company designs, manufactures and distributes a line of high and low temperature dyeing and finishing machinery to the textile industry. Through its petroleum and chemical equipment segment, the Company produces and sells coal chemical equipment, formaldehyde plant and downstream products, a range of heat exchangers, separators, tanks, towers, reaction kettles and other products to petroleum and chemical industries.
