Battery maker GP Industries sells land in China for 266m yuan

BATTERY maker GP Industries on Wednesday said its unit would sell land and buildings located in Huizhou, the People's Republic of China, for 266 million yuan (S$54.8 million) to Huizhou Cheng Hong Industrial.

The land and buildings are currently used by the group as a factory and a warehouse for the manufacturing of acoustic and electronic products and a dormitory for its employees. The sale will be done through its unit, GP Electronics (Huizhou). 

GP Industries is the main industrial investment vehicle of Hong Kong-listed Gold Peak Industries (Holdings).