BEIJING, Aug. 16 (Xinhua)--GPRO Titanium Industry Co., Ltd. (000545.SZ) said Wednesday that it would acquire 100 percent stake in Zhejiang Guxiandao Polyester Dope Dyed Yarn Co., Ltd. for 5.6 billion yuan.
The company also said it would raise up to 1.5 billion yuan in private placement of shares.
GPRO Titanium mainly produces and sells titanium dioxide products. Guxiandao is one of the largest manufacturers of polyester filaments for industrial purposes in China, and has 600,000 tons of annual production capacity. (Contributed by Wu Shuang; Ding Lei, dinglei@xinhua.org)
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