Xiamen Tungsten to construct cemented carbide production base in Thailand
2019-06-14 18:13:31 [Print]
Xiamen Tungsten announced on 13 June that the board of directors approved the Proposal on Xiamen Jinlu Setting up Subsidiary in Thailand for Construction of Cemented Carbide Production Base (Phase I).
The subsidiary in Thailand is temporarily named as Jinlu Cemented Carbide Co., Ltd. (Thailand) with registered capital of USD52.0833 million (about RMB350 million) paid by installment. The initial paid-in capital is USD17.8571 million (about RMB120 million). Xiamen Tungsten agreed to invest USD28.467 million (about USD191.3 million) to build the production line of 800tpy of cemented carbide. The project is expected to reach full production in 2020 with annual sale value of USD50.113 million (about RMB336.76 million) and net profit of USD7.509 million (about RMB50.46 million).
The subsidiary in Thailand is temporarily named as Jinlu Cemented Carbide Co., Ltd. (Thailand) with registered capital of USD52.0833 million (about RMB350 million) paid by installment. The initial paid-in capital is USD17.8571 million (about RMB120 million). Xiamen Tungsten agreed to invest USD28.467 million (about USD191.3 million) to build the production line of 800tpy of cemented carbide. The project is expected to reach full production in 2020 with annual sale value of USD50.113 million (about RMB336.76 million) and net profit of USD7.509 million (about RMB50.46 million).
Sodium Tungstate WO3 68%min EXW China
Unit:RMB/mt
China tungsten carbide producers' operating rate statistics by province by month
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