Ningbo Lehui International Engineering Equipment Co plans to take over German dairy packaging equipment manufacturer NSM Packtec GmbH, according to media reports on Wednesday.
Lehui will pay 4 million euros (.73 million) to acquire the company from NSM Magnettechnik GmbH, domestic news website sohu.com reported.
Under the agreement, Packtec would continue its current operations with the same brand name and management team, the report said.
NSM Magnettechnik will be barred from entering the same business within two years after the completion of the deal, according to the report.
Lehui said the acquisition will bring advanced technologies in food and liquid packaging manufacturing to the company's other businesses, the sohu.com report said.