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Unifrax I LLC recently announced that, through affiliates, it has entered into a share purchase agreement to acquire a 29% stake in Shandong Luyang Share Co. Ltd. from Nanma Town Collective Asset Management Center of Yiyuan County, China. In addition, it has concurrently entered into several agreements with Luyang to establish a strategic cooperation relationship that includes a technology license agreement that will allow Luyang to use certain Unifrax manufacturing technology. Unifrax is majority owned by affiliates of American Securities LLC.
Luyang develops, manufactures and sells a variety of refractory and insulation materials used primarily in China. Luyang is a leader in the Chinese marketplace and has been in business for 30 years.
For more information, visit www.unifrax.com.