News: Deals: Reports

Daqing Deta Electric Co Ltd & Hanwei Energy Services Corp	Update Date: 05/14/08
Date Announced: 05/13/08
Value (million $USD): 0.9 million U.S. Dollar 6.0 million Chinese Yuan

Status: Pending

TRANSACTION DETAILS
Date Announced	05/13/08
Date Originally Announced	05/13/08
Format	Acq. Rem. Int.	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	Unspecified Regulatory Auth.
Value	0.9 million U.S. Dollar 6.0 million Chinese Yuan	Advisor Fees	n/a

SYNOPSIS
CHINA - Hanwei Energy Services Corp through its wholly-owned subsidiary, Hanwei Wind Power Equipment (Daqing) Co Ltd, was granted an option to acquire the remaining 1% stake, which it did not already owned, in Daqing Deta Electric Co Ltd, a wind power equipment manufacturer, for 6 mil Chinese yuan (0.863 mil Canadian dollars/$0.860 mil US). The transaction was subject to regulatory approvals.

TARGET
Name	Daqing Deta Electric Co Ltd
Industries	Plastics pipe; Turbines and turbine generator sets; Environmental controls; Process control instruments
City	n/a
State	n/a
Nation	China
Incorporated in	n/a
Public Status	Private
Business Description	Daqing Deta Electric Co Ltd is a wind power equipment manufacturer headquartered in China.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Hanwei Energy Services Corp (Toronto : HE)
Industries	Plastics pipe; Turbines and turbine generator sets; Environmental controls; Process control instruments
City	Vancouver
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Public
Business Description	Hanwei Energy Services Corp, located in Vancouver, Canada, manufactures and sells high pressure fiberglass reinforced plastic pipe products as well as pollution control systems for coal fired plants and wind power equipment for the oil industry in China. Some of its products include turbines, blades, towers, and FRP spray headers for wet flue gas desulphurization pollution control systems.
Advisors	NULL
Acquiror Sales	n/a

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