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Orient Tantalum to shut down its titanium mill products subsidiary
2017-12-28 16:44:45 【Print】
Ningxia Orient Tantalum Industry Co., Ltd. recently announced to shut down its titanium mill products subsidiary's ("the Subsidiary") pipe production line.
The Subsidiary's production line includes extrusion, rolling and acid pickling with a designed capacity of 1,000tpy. Since 2013, as China carried out the policy of de-capacity, the newly launched projects on salt and alkali and PTA decreased sharply and demand for titanium and titanium alloy pipe products decreased accordingly, leading to limited operating rates of pipe producers and fierce competition. It put the pipe production line into operation in June, 2011 with the highest output of 350tpy and a regular sales volume of about 180tpy of titanium pipe. The Subsidiary's pipe production line was shut down mainly due to decreased demand, fierce competition, low level of output, low yielding coefficient, and high production cost.
By the end of November 2017, the Subsidiary had an original value of fixed assets of RMB281.2221 million and net value of fixed assets of RMB106.1917 million. The Subsidiary will arrange personnel placement and assets disposal well according to relevant regulations.
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The Subsidiary's production line includes extrusion, rolling and acid pickling with a designed capacity of 1,000tpy. Since 2013, as China carried out the policy of de-capacity, the newly launched projects on salt and alkali and PTA decreased sharply and demand for titanium and titanium alloy pipe products decreased accordingly, leading to limited operating rates of pipe producers and fierce competition. It put the pipe production line into operation in June, 2011 with the highest output of 350tpy and a regular sales volume of about 180tpy of titanium pipe. The Subsidiary's pipe production line was shut down mainly due to decreased demand, fierce competition, low level of output, low yielding coefficient, and high production cost.
By the end of November 2017, the Subsidiary had an original value of fixed assets of RMB281.2221 million and net value of fixed assets of RMB106.1917 million. The Subsidiary will arrange personnel placement and assets disposal well according to relevant regulations.
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