Plastics Capital delays completion of Shengli acquisition

8th Jan 2014 12:10

Plastics Capital shares were hit on Wednesday after the group said completion of its acquisition of Shengli Printing Science and Technology would be delayed around two months to the end of February. The plastics products manufacturer said the delay was due to requests for additional information from the local Commission of Commerce, which it needed prior to delivering the necessary regulatory approvals.The company stressed that good progress had been made in satisfying the other required conditions. Shengli, which employs around 50 people, is a profitable, privately-owned manufacturer of plastic creasing matrix, located in Beijing. NR