2007-09-12 | Qingdao
Qingdao, China, September 12, 2007 – Unistone Management Company today announced the signing of a definitive agreement to acquire a controlling stake in Shandong Redwave Electric, a major electric motor manufacturing company in China.
Jessie Yu, a spokesperson of Unistone, comments that "we are extremely pleased with the transaction, which creates tremendous synergy for our portfolio by extending our product lines from low voltage electric products to high voltage electric apparatus and services."
Unistone is a leading global alternative investment company which creates value by identifying high growth businesses and unlocking their hidden potentials. After its investments, Unistone builds long term businesses together with the management.
Founded in 1963, Shandong based Redwave Electric specializes in electric motor and electric apparatus manufacturing with products ranging from 0.5KW up to 415KW, serving industrial customers in China and all over the world. The company is known for its proprietary technology in energy conservation and high efficiency.