Kanotek optics (02276) announced that its wholly-owned subsidiary, Asahi Lite (Thaila..., signed a land purchase agreement with Asia Industrial Estate Co., Ltd. recently. It plans to purchase the ownership of a piece of land in Thailand with a price of about 0.196 billion Thai baht, approximately RMB 39 million.
According to the announcement of the Zhitong Financial APP, Kanotek optics (02276) announced that its wholly-owned subsidiary, Asahi Lite (Thailand) Co., Ltd., signed a land purchase agreement with Asia Industrial Estate Co., Ltd. The company plans to purchase the ownership of a piece of land in Thailand for about 0.196 billion Thai baht, approximately RMB 39 million.
The site is located in a certain science and technology park in Thailand, about 20 kilometers away from Suvarnabhumi Airport, the capital of Thailand. The land area is 17 rai 3 ngan 97.9 square wah, equivalent to 0.028 million square meters. The land is used for industrial purposes. According to Thai laws and regulations, after Asahi Lite (Thailand) Co., Ltd. obtains the permit from the Industrial Estate Authority of Thailand (IEAT), it can permanently and legally own the land.
The company plans to use the land for the construction of production bases and corresponding supporting facilities, mainly for the construction of automated production lines for high-end refractive index resin lenses and semi-finished module, supporting warehouses, logistics, and sales. Subsequently, according to the company's board of directors in combination with its own strategic positioning and market demand, the transaction process of this acquisition will be steadily advanced, as well as the subsequent factory construction and capacity layout.