China Tungsten and Hightech Materials to invest in cemented carbide project
2018-11-01 16:17:01 [Print]
China Tungsten and Hightech Materials announced on October 31st that it will issue no more than 176 million non-public shares to raise no more than RMB1.529 billion. The net proceeds after deducting the issuance expenses will be invested in a technology rectification project with an annual capacity of 2,000t of high-end cemented carbide rod, quality improvement and capacity expansion project for cemented carbide and construction project for precision tool industrial park and as supplementary working funds.
On the same day, the company announced that its holding subsidiary, Zhuzhuan Company, acquired 100% shares of German HPTec GmbH held by China Minmetals International at RMB 149 million of cash. Headquartered in Ravensburg, HPTec is Europe's largest manufacturer of cemented carbide micro drill and milling cutter used in PCB.
On the same day, the company announced that its holding subsidiary, Zhuzhuan Company, acquired 100% shares of German HPTec GmbH held by China Minmetals International at RMB 149 million of cash. Headquartered in Ravensburg, HPTec is Europe's largest manufacturer of cemented carbide micro drill and milling cutter used in PCB.
Tungsten Bar W-4 99.9%min EXW China
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