Fabchem China to acquire over 71% shares in Renewable Power Management for $22 mil; to move to Catalist board following proposed acquisition

Fabchem China, the manufacturer of initiation systems and detonating cords for explosives, has entered into a non-binding term sheet with three other investors to acquire about 71.26% of the shares in Renewable Power Management for $22 million on Oct 12.

See also: Fabchem China to acquire domestic commercial explosives trader for $8.5 mil; requires shareholders' vote of approval