f8k021509_cvalves.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of Earliest event Reported): April 21, 2009 (February 15,
2009)
CHINA
VALVES TECHNOLOGY, INC.
(Exact
name of registrant as specified in its charter)
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Nevada
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000-28481
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86-0891931
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(IRS
Employer Identification
No.)
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No.
93 West Xinsong Road
Kaifeng
City, Henan Province
People’s
Republic of China 475002
(Address
of principal executive offices)
(+86)
378-292-5211
(Registrant's
telephone number, including area code)
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions ( see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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The
information set forth in Item 2.01 of this Current Report on Form 8-K is
incorporated herein by reference in its entirety.
On April
17, 2009, Taizhou Taide Valve Co., Ltd., a Chinese corporation (the “ Subsidiary”), a
wholly-owned subsidiary of China Valves Technology, Inc., acquired 100% tangible
assets of Taizhou Wote Valve Co., Ltd. (“Taizhou Wote”), for a
total cash consideration of U.S. $3 million pursuant to an Asset Purchase
Agreement, dated February 15, 2009, between the Subsidiary and Taizhou Wote (the
“Asset Purchase
Agreement ”).
Taizhou
Wote is a corporation established under the laws of the People’s Republic of
China and is principally engaged in the business of manufacturing, marketing and
selling of butterfly valves and valve products for use in water
supply and sewage systems. Located in Taizhou, Jiangsu Province, China, Taizhou
Wote has an established annual production capacity of 3,200 metric tons of
valves. It is currently operating at approximately 70% of its
capacity.
The
Subsidiary will spend approximately $1 million to upgrade Taizhou Wote’s
production technology and equipment, which we expect will increase Taizhou
Wote’s existing production capacity by 50% and enable it to produce higher-end
valve products.
Other
than in connection with the Asset Purchase Agreement, no material relationship
exists between us or any of our affiliates, or our officers, directors or their
associates and Taizhou Wote or its equity owners or any of its other
affiliates.
The
description of the Asset Purchase Agreements in this current report is a summary
only and is qualified in its entirety by the terms of the Asset Purchase
Agreement, which is attached hereto as exhibit 10.1 and is hereby incorporated
by reference.
(d) Exhibits :
The
following exhibit is filed with this current report on Form 8-K.
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Description
of Exhibit
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10.1
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Asset
Purchase Agreement, dated as of February 15, 2009, by and between Taizhou
Taide Valve Co., Ltd. and Taizhou Wote Valve Co.,
Ltd.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
China
Valves Technology, Inc.
Date:
April 21, 2009
/s/ Siping
Fang
Siping
Fang
Chief
Executive Officer
EXHIBIT
INDEX
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Exhibit
Number
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Description
of Exhibit
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10.1
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Asset
Purchase Agreement, dated as of February 15, 2009, by and between Taizhou
Taide Valve Co., Ltd. and Taizhou Wote Valve Co.,
Ltd.
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