deal between Dingli and MEC

Dingli Takes 25% Stake in MEC

Date: 11-12-2017 / Author: mlarson

Chinese aerial-platform manufacturer Zhejiang Dingli has signed an agreement to purchase 25% of U.S. aerial-lift manufacturer California Manufacturing & Engineering Company (MEC).

The agreement, under which Dingli would pay $20 million for 625,000 shares of MEC stock, is pending, subject to regulatory approval in both China and the United States. The deal is expected to be completed early in 2018.