GPRO Titanium Industry Co., Ltd. plans to exit the titanium dioxide industry by swapping certain assets and all liabilities of its subsidiaries, including Nanjing Titanium Dioxide Chemical Co., Ltd., Xuzhou Titanium Dioxide Chemical Co., Ltd., and Nanjing Jinpu Supply Chain Management Co., Ltd., for an equivalent portion of a 91% stake in Nanjing Orientleader Technology Co., Ltd. held by Nanjing Jinpu Dongyu Investment Co., Ltd. The remaining stake difference will be acquired through a combination of share issuance and cash. GPRO Titanium will also purchase the remaining 9% stake in Orientleader from Nanjing Hengyu Taihe Investment Partnership Enterprise. Supporting funds will be raised as part of the transaction.
Before the deal, GPRO Titanium's core business was the production and sale of titanium dioxide. After the transaction, it will fully withdraw from the sector, with Orientleader becoming its wholly-owned subsidiary. The company's main business will shift to rubber products.
