Luoyang Glass Company (HKG:1108) announced that it has won the bid for the assets owned by CLFG Longmen Fibre-reinforced Plastic Company Limited (Longmen FRP) at an auction for RMB3.1 million (HK$3.813 million). Such assets comprise production plants, office buildings, assembly warehouses, canteen, cars and machineries.

Luoyang Glass is planning for expansion of production and operation spaces. The assets were situated at the principal place of business of Longmen FRP, the land use right of which is owned by Luoyang Glass. Upon completion of the acquisition, the assets can be conveniently transferred and utilized by Luoyang Glass.

China Luoyang Float Glass (Group) Company Limited (CLFG), the controlling shareholder of Luoyang Glass, owns 79.06% equity interest in Longmen FRP.