Vohringer Home Technology (SHA:603226) plans to acquire a 51% stake in PCB lamination automation equipment maker Nanjing Keruisi Automation Technology from Qin Zaocai and Yang Zhenyu for 214.2 million yuan.
The company said the deal aims to diversify its business amid sluggish demand in the wooden flooring industry, according to a weekend filing with the Shanghai bourse.
Shares of the household furniture manufacturer closed 6% lower Monday.
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