Youyuan International Holdings (HKG:2268) announced that it has agreed to acquire an industrial land with a site area of 84,998 square meters and a plant erected on the land from Zhuang Sixiong, the brother-in-law of Ke Wentuo, chairman and an executive director of the company at a consideration of RMB42.186 million.

The group envisages ongoing growth in demand for its products and an ongoing need to increase its production capacity. The land and the plant, being adjacent to the group’s existing production facilities, presents an ideal location for the group to pursue its further development in the future. The group considers the consideration favorable relative to the prevalent market price levels.

Source:chinesestock.org