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Announcement of Acquisition of Dunham-Bush Group

Announcement of Acquisition of Dunham-Bush Group

We are pleased to announce that Yantai Moon Group (Hong Kong) Limited, a Yantai Moon Group company, became a controlling shareholder of Dunham-Bush Group as of September 12, 2012. Yantai Moon Group has been a joint venture partner of Dunham-Bush in China for the past seventeen years and provided its valuable support and expertise in building successful operations of the joint venture.
Main products of Yantai Moon Group are low temperature chillers, cold storage and freezers. The acquisition will create new synergies between Yantai Moon Group and Dunham-Bush and will bring about benefits to customers on both domestic and international levels.
Max Ghiassian, President of Chinese operations of Dunham-Bush, has been appointed as the Chief Executive Officer of Dunham-Bush Group.
It is the mutual goal of Dunham-Bush and Yantai Moon Group to continue providing the highest level of service and we look forward to a long and mutually beneficial relationship with our customers. We believe our entire group will benefit from this acquisition as we continue to grow as a diverse manufacturer of HVAC products.

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