Lanzhou LS Heavy Equipment Co., Ltd. plans to acquire a 100% equity interest in Lanzhou Lanshi Superalloy New Materials Co., Ltd. held by its controlling shareholder Lanzhou Lanshi Group Limited Company for a total of RMB703 million (USD97.77 million) in cash.

Lanshi Superalloy is a main producer and R&D company in Western China for high performance metal materials such as high temperature alloy, corrosion resistant alloy, titanium alloy, precision alloy, special stainless steel and special structural steel, with an annual production capacity of 80,000t of special steel and 50,000t of special products, including plates, forgings, wires and rods, and kits of parts, which are widely used in clean energy, petrochemical engineering, aerospace, marine engineering, national defense and military project, environmental protection and other fields.