SUZHOU, CHINA – Chinese home appliance maker KingClean Electric plans to acquire a 96.5% stake in PCB maker Suzhou Lihua Technology for 272.5 million yuan ($37.4 million).
Kingclean will buy the stake from Lake Electric Investment Group and RayVal Holding. Suzhou Lihua Technology, established in August 2003, also produces computer and peripheral products.
KingClean said it has decided to acquire Lihua as it is bullish on the global market for electronic products.