On September 9, 2021, Ossen Innovation Co., Ltd. (Ossen Innovation), a China-based manufacturer of an array of plain surface, rare earth, and zinc coated pre-stressed steel materials, announced that it has completed its merger with New Ossen Innovation Limited, a special-purpose vehicle wholly owned by New Ossen Group Limited, a subsidiary of Pujiang International Group Limited. As a result of the merger, Ossen Innovation has become a wholly owned subsidiary of New Ossen Group Limited and ceased to be a publicly traded company. Wilson Sonsini Goodrich & Rosati acted as the U.S. legal counsel to Pujiang International Group Limited in the transaction.
Ossen Innovation Co., Ltd. manufactures and sells a wide variety of plain surface pre-stressed steel materials and rare earth coated and zinc coated pre-stressed steel materials. The company's products are mainly used in the construction of bridges, as well as in highways and other infrastructure projects. Ossen has two manufacturing facilities located in Ma'anshan, Anhui Province, and Jiujiang, Jiangxi Province.
The Wilson Sonsini team that advised Pujiang International Group on the transaction was led by partners Dan Ouyang and Jie Zhu, and included Xuchao Dong, Rujin Ruan, and Yiwen Feng.