Western Materials announces capital increase in nuclear-grade zirconium firm
2024-07-23 17:00:10 [Print]
Western Metal Materials Co., Ltd. announced a plan to subscribe for 4,948,500 shares newly issued by Xi'an Western Energy Material Technologies Co., Ltd. for total consideration of approximately RMB25.09 million (USD3.45 million).
After the capital injection, Western Materials will maintain a 8.476% of stake in Western Energy Material as all the original shareholders of the joint stock company increase capital in the same proportion.
Western Energy Material mainly produces nuclear-grade zirconium products, such as zirconium alloy tube, plate, bar, etc. The proposed capital increase is expected to shore up the company's leading position in nuclear-grade zirconium processed products industry and also help extend Western Materials' industrial chain for nuclear-grade rare metal products.
After the capital injection, Western Materials will maintain a 8.476% of stake in Western Energy Material as all the original shareholders of the joint stock company increase capital in the same proportion.
Western Energy Material mainly produces nuclear-grade zirconium products, such as zirconium alloy tube, plate, bar, etc. The proposed capital increase is expected to shore up the company's leading position in nuclear-grade zirconium processed products industry and also help extend Western Materials' industrial chain for nuclear-grade rare metal products.
Zircon Sand Zr(Hf)O2 65%min, Fe2O3 0.10%max EXW China
Unit:RMB/mt
China zirconium silicate producers' number MoM output increase statistics by province by month
Unit: pcs
