Press

United Power Technology fully integrates manufacturing subsidiary

Eschborn, Germany, January 05, 2012 – United Power Technology Group, one of the leading manufacturers of engine-driven power equipment in China, acquired the remaining 43% of its subsidiary Sealand Machinery Co., Ltd. (SMC). As a result, SMC, a manufacturer of frames and parts for United Power’s generators, becomes a wholly-owned subsidiary.


This acquisition provides United Power the opportunity to fully integrate the parts business and to further increase the company’s degree of vertical integration. The acquisition price amounts to approx. EUR 0.25 million (RMB 2.1 million).


In the year 2010, SMC recorded revenues of approx. EUR 2 million (RMB 17.5 million). The acquisition of the outstanding 43% of the share capital does not have any significant effects on the company’s consolidated financial statements.


About United Power Technology Group
United Power Technology Group designs, develops, manufactures and sells engines and an extensive range of engine-driven power equipment, including generators, outdoor power equipment, as well as components. Its major products comprise residential as well as commercial generators, which are currently delivered to more than 45 countries in the world. The operational companies of United Power Technology Group are incorporated under the laws of the People’s Republic of China and located in Fuzhou and Shanghai, China.


For further requests please contact:


Kirchhoff Consult AG
Dr Kay Baden
T: +49 40 60 91 86 39
F: +49 40 60 91 86 60
E-Mail: baden@kirchhoff.de
or visit www.unitedpower.de.com

Disclaimer

This publication constitutes neither an offer to sell nor a solicitation to buy securities of United Power Technology AG. The shares have already been sold.

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