Financial Wire

YUTO Packaging Tech Partners With Jiangxi Special Electric Motor for Carbon Fiber Development

-- Shenzhen YUTO Packaging Technology (SHE:002831) signed a cooperation framework agreement with Jiangxi Special Electric Motor (SHE:002176) for the development of carbon fiber and packaging, according to a Shenzhen bourse filing on Tuesday.

The Chinese packaging products manufacturer will supply woven bags, heavy-duty packaging, paper packaging, and logistics services, as well as carbon fiber for motors and robotics to Jiangxi Special.

The specialty motors and battery materials maker will also supply motors to YUTO.

The deal is valid for three years and can be renewed.

YUTO's shares slipped over 1% at the close, while those of Jiangxi Special jumped 3%.

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