August 30 – Taiyuan Heavy Industry (600169) plans to acquire a 55-percent stake in German company CEC Heavy Machine Engineering and Consulting Limited for 500,000 Euros, reports yicai.com, citing a company filing.

The target, whose small and mid-sized heavy machines are widely used in the hydropower and machinery production industries, yielded profits of 73, 000 Euros on revenues of 408,000 Euros in 2010.

As of December 31 2010, CEC had total assets of 247,000 Euros, realized operating income of 408,000 Euros, and turned a profit of 73,000 Euros.
 

Source:capitalvue