STNM: New 5G communication equipment special aluminum alloy company completes business registration procedures
2020-01-14 15:06:18 [Print]
On January 10, Sitong New Metal Material Co., Ltd. (STNM) issued an announcement on the progress of foreign investment projects. The company convened a board of directors on December 25, 2019, which deliberated and passed the proposal on signing the investment agreement for the new 5G communication equipment special lightweight aluminum alloy material project with the Government of Anyi, Baoying, Yangzhou.
Recently, the project company invested by STNM has completed the business registration procedures and obtained the Business License issued by Baoying Market Supervision Administration. Meanwhile, the name of the investment project company originally disclosed as "Sitong (Yangzhou) New Metal Material Co., Ltd." is tentative and has not been approved by the administration.
STNM said that the project has entered the construction period at present and is expected to start trial production and supply products to customers in batches in the middle of 2020. An annual operating revenue of RMB800-1,000 million (USD116-145 million) might be realized after the project is completed.
Recently, the project company invested by STNM has completed the business registration procedures and obtained the Business License issued by Baoying Market Supervision Administration. Meanwhile, the name of the investment project company originally disclosed as "Sitong (Yangzhou) New Metal Material Co., Ltd." is tentative and has not been approved by the administration.
STNM said that the project has entered the construction period at present and is expected to start trial production and supply products to customers in batches in the middle of 2020. An annual operating revenue of RMB800-1,000 million (USD116-145 million) might be realized after the project is completed.
Aluminum Alloy A356.2 EXW China
Unit:RMB/mt
China secondary aluminum alloy producers' suspension number statistics by province by month
Unit: pcs
