ZHEJIANG Dahua Technology, a major chinese surveillance camera manufacturer, has sold its US subsidiary, essentially divesting from the country, reports Nikkei Asia.
Dahua disclosed in its latest annual report that the group had completed the disposal of all shares in Dahua Technology USA. The buyer is Central Motion Picture USA, a unit of a Taiwanese filmmaker, which paid US$15 million. The deal also included the sale of $1 million worth of inventory products from Dahua's Canadian unit to the purchaser.
The agreement was signed in January and the transaction was completed by the end of that month, so the American subsidiary has been deconsolidated from the Dahua group. It was the only remaining unit in the US, according to the latest annual report.
Dahua did not specify any reasons for unloading the subsidiary, which it had established in 2014 in an effort to extend its international reach.
SeaNews Turkey
Dahua disclosed in its latest annual report that the group had completed the disposal of all shares in Dahua Technology USA. The buyer is Central Motion Picture USA, a unit of a Taiwanese filmmaker, which paid US$15 million. The deal also included the sale of $1 million worth of inventory products from Dahua's Canadian unit to the purchaser.
The agreement was signed in January and the transaction was completed by the end of that month, so the American subsidiary has been deconsolidated from the Dahua group. It was the only remaining unit in the US, according to the latest annual report.
Dahua did not specify any reasons for unloading the subsidiary, which it had established in 2014 in an effort to extend its international reach.
SeaNews Turkey
