Attached files
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EX-99.1 - Harbin Electric, Inc | v163202_ex99-1.htm |
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act 1934
Date of
Report (Date of earliest event reported): October 13, 2009
Harbin Electric,
Inc.
(Exact
name of registrant as specified in charter)
Nevada
(State or
other jurisdiction of incorporation)
000-51006
|
98-0403396
|
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
No.
9, Ha Ping Xi Lu, Ha Ping Lu Ji Zhong Qu
Harbin
Kai Fa Qu, Harbin, China
|
150060
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
Registrant’s
telephone number, including area code:
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86-451-86116757
|
|
(Former
name or former address, if changed since last
report)
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR
240.14a-12(b))
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
2.01 Completion of Acquisition or Disposition of Assets
In a
Current Report on Form 8-K filed by Harbin Electric, Inc. (the “Company”) on
October 7, 2009, the Company announced the execution by its wholly-owned
subsidiary, Harbin Tech Full Electric Co. Ltd., a PRC company (“Harbin Tech
Full”), of an Equity Acquisition Agreement (the “Agreement”) with Xi’an Simo
Electric Co. Ltd. (“Xi’an Simo”) and Shaanxi Electric Machinery Association
(“Shaanxi Electric”) whereby Harbin Tech Full agreed to acquire (i) 100% of the
outstanding shares of Xi’an Simo Motor Incorporation (Group) (“Simo Motor”),
which is 99.94% owned by Xi’an Simo and 0.06% owned by Shaanxi Electric, and
(ii) all corresponding assets of Simo Motor, including but not limited to, all
of the manufacturing equipment, real-estate, land use rights, stocks, raw
materials, automobiles, intellectual property, receivables, other receivables,
payables, business contracts and external investments owned by Simo Motor for a
purchase price of equal to no less than six (6) times and no more than
eight (8) times the 2008 audited net profits of Simo Motor. On October 19, 2009,
the Company issued a Press Release announcing the completion on October 13,
2009, of the acquisition of Simo Motor. As of the closing date, Harbin Tech Full
had completed the registration of the share transfer with the requisite PRC
authorities and had obtained the required business registration and transfer of
licenses of Simo Motor, all as contemplated by the Agreement. On October
13, 2009, Simo Motor changed its name to Xi’an Tech Full Simo Motor Co.
Ltd. A copy of the press release is attached hereto as Exhibit
99.1.
A
description of the acquisition and the Agreement is set forth under Item 1.01 of
the Current Report on the Form 8-K filed on October 7, 2009 and is incorporated
herein by reference in its entirety.
Item
9.01. Financial Statements and Exhibits
|
(a) Financial
Statements of Businesses Acquired
|
The
financial information that is required pursuant to this Item will be filed by
amendment not later than 71 calendar days after the date that this initial
report on Form 8-K is required to be filed.
(b)
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Pro-forma
Financial Information
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The
pro-forma financial information that is required pursuant to this Item will be
filed by amendment not later than 71 calendar days after the date that this
initial report on Form 8-K is required to be filed.
(d)
Exhibits
99.1 Press
release dated October 19, 2009, announcing the completion of the
acquisition.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
HARBIN ELECTRIC, INC. | |||
|
By:
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/s/ Tianfu Yang | |
Name: Tianfu Yang | |||
Title: Chairman and Chief Executive Officer | |||
Dated:
October 19, 2009