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Shihlin Electric & Engineering Corp Announces Reorganization of Subsidiary; to Transfer Equity Shares to MITSUBA Corp
Shihlin Electric & Engineering Corp announced that it plans to divide its subsidiary, a Changzhou-based motor company (Subsidiary A), into two Changzhou-based motor companies, with one to be with the same name as Subsidiary A, and the other one to be wholly owned by Subsidiary A, for the expansion of the Company's business, effective June 30, 2013. After that, a 45% stake in the new subsidiary will be transferred to MITSUBA Corp.
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