Completion of acquisition of BrascabosSolartech International Holdings Ltd. (ˇ§the Companyˇ¨) has completed the acquisition
of the entire interest of Brascabos Componentes Elétricos e Eletrônicos Ltda. (ˇ§Brascabosˇ¨). Brascabos is now a wholly owned subsidiary of the Group.
Brascabos is one of the leading manufacturers of power cords and wire harness for the White Goods and automotive parts industry in Brazil. It also manufactures electronic controls and sensor devices. In the White Goods industry, Brascabosˇ¦s products are used in laundry, cooking and cooling appliances. Other applications include automobiles, communication devices, computer audio and video equipment and industrial applications. Brascabos also holds patents for proprietary processes and products.
Latin America is considered one of the fast growing economic sectors
in the world and the acquisition is consistent with the Companyˇ¦s strategy of establishing a manufacturing facility in Latin America so as
to capture the economic opportunities there. In addition, Brascabos is also engaged in the manufacturing of harness for automotive industry and the acquisition will pave the way for the Company to enter into
such business. By leveraging off the experience of Brascabos, it would be better placed to develop potential business opportunities in the automotive industry in China.
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GUIA EXAME-VOCESA 2006