France's Mersen says it is buying Chinese company

18th June 2010, Comments 0 comments

The Mersen group, a French specialist in graphite and electrical components, said on Friday it will buy 60 percent of China's Yantai Zhifu Graphite as it boosts its renewable energy business.

Terms of the deal were not given.

Mersen said Yantai Zhifu Graphite was based in China's northeastern Shandong province and specialised in graphite-based products used in solar cell energy systems.

"This deal is part of our growth strategy focusing on building a strong position in renewable energy in Asia," the company said in a statement.

© 2010 AFP

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