GD Group completes restructuring
2017-12-29 17:43:08 [Print]
On the morning of December 28th, Golden Dragon Precise Copper Tube Group Inc. signed strategic restructuring agreement with the Wanzhou District Government.
The phase 1 project, covering more than 100 mu and with a total investment of RMB1.38 million, went into production on December 28th and 3 precision copper tube production lines were built. Their equipment was imported from famous manufactures all over the world, such as Finland, Italy, USA and Japan and the company can own the most advanced cost-rolling copper tube production lines after completion coupled with the patent technology of GD Group.
The company can own 80,000tpy capacity of copper tube after 3 production lines going into production and will realize sales revenue of RMB3.5 million and annual incoming taxes of RMB54 million. Besides taxes, GD Group's copper trading project, owing RMB300 million of investment and settled in Wanzhou, will offer over 500 jobs and give impetus to the development of relevant industries.
GD Group's copper tube output in 2017 reaches 500,000t, which is the highest level since establishment.
Li Changjie revealed on the restructuring conference on December 28th that the company should endeavor to put 3 production lines into production before the end of 2018.
The phase 1 project, covering more than 100 mu and with a total investment of RMB1.38 million, went into production on December 28th and 3 precision copper tube production lines were built. Their equipment was imported from famous manufactures all over the world, such as Finland, Italy, USA and Japan and the company can own the most advanced cost-rolling copper tube production lines after completion coupled with the patent technology of GD Group.
The company can own 80,000tpy capacity of copper tube after 3 production lines going into production and will realize sales revenue of RMB3.5 million and annual incoming taxes of RMB54 million. Besides taxes, GD Group's copper trading project, owing RMB300 million of investment and settled in Wanzhou, will offer over 500 jobs and give impetus to the development of relevant industries.
GD Group's copper tube output in 2017 reaches 500,000t, which is the highest level since establishment.
Li Changjie revealed on the restructuring conference on December 28th that the company should endeavor to put 3 production lines into production before the end of 2018.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' inventory to production ratio statistics by province by month
Unit: %
