Estun Automation (SHE:002747) plans to establish a joint venture with Suzhou BOE Sensing Technology, according to a Shenzhen bourse filing on Thursday.
The planned subsidiary, Suzhou BOE Drive Technology, will have a registered capital of 150 million yuan and will manufacture electronic specialty equipment, power electronic components, photovoltaic equipment, optical fibers and semiconductor devices.
The Chinese industrial automation products manufacturer will own 40% of the venture and BOE Sensing will hold 60%, investing 60 million yuan and 90 million yuan in the venture, respectively.
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