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Harbin Electric Unit to Acquire Marine Engineering Equipment Company

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Harbin Electric Company (HKG:1133) unit Harbin Electric Machinery agreed to acquire Harbin Electric Group Marine Intelligent Equipment.

The target was acquired from State-owned Harbin Electric, the company's controlling shareholder, for 14.9 million yuan, a Thursday bourse filing showed.

The acquisition will assist the company in expanding its presence in the deep-sea equipment and underwater drone sectors, and boost its marine manufacturing and R&D capacity.

Harbin Electric Group Marine Intelligent Equipment engaged mainly in the manufacture and R&D of marine engineering equipment; R&D of intelligent robot development, electric motors and control systems, and mechanical equipment; and integration of intelligent control systems.

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