Chinese home appliance maker KingClean plans to acquire a 96.5% stake in PCB maker RayVal for 272.5 million yuan ($37.5 million,at today's exchange rate).

KingClean said it has decided to acquire RayVal as it is bullish on the global market for electronic products.

About RayVal

RayVal (Suzhou) was founded in 2003, which is a new high-tech enterprise and headquartered in Suzhou,China. It has a subsidiary company in Shenzhen. It covers 30,000㎡ of plant area and owns 20 production lines of SMT, 15 lines of wave soldering, 3 lines of selective wave soldering, 14 lines of coating. The number of total employees is around 1000. 

RayVal Shen Zhen has 9,000㎡ of plant area and owns 5 production lines of SMT, 3 lines of wave soldering, 2 lines of coating. The number of total employees is around 180. RayVal always devotes to be a high-quality & high value-added EMS company. The main existing customers are from international group, including CommScope, Schneider, Honeywell, Kodak, Siemens and, etc.

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