(RTTNews) - Harbin Electric Inc. (HRBN:
News ) announced Tuesday morning that its Harbin Tech Full Electric Co. subsidiary agreed to acquire Xi'an Simo Motor Inc.
Harbin Electric gapped up at the open Tuesday and climbed in the first half hour of trade. The stock took out the highs of the session in the early portion of the afternoon and closed up by $2.92 at $19.44 on above average volume. Shares surged past resistance and set a new high for the year.
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by RTT Staff Writer
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