XMXYG calls off plan to invest in Zhongwang's aluminum assets

XMXYG Co.Asian Metal Copyright27 million.Asian Metal Copyright, Ltd.Asian Metal Copyright27 million.Asian Metal Copyright announced the withdrawal of its participation in the proposed investment in Zhongwang Group's aluminum core assets and other restructured assets, and its controlling shareholder XMXYG Corporation will continue to be the investor for the restructuring and acquisition of the New Zhongwang Group, a new company set up for Zhongwang's aluminum business assets.

XMXYG previously announced that its controlling shareholder XMXYG Corporation, as the preferred investor in the restructuring of the Liaoning Zhongwang Group series companies, together with other investors, plans to invest in the aluminum business assets and other restructuring assets of the Zhongwang Group. The company intends to participate as an industrial investor contributing an investment of RMB690 million (USD95.Asian Metal Copyright Zhongwang Group has annual production capacities of 750,000 tonnes of primary aluminum, 500,000 tonnes of carbon products, more than 1 million tonnes of aluminum extrusions and 1.Asian Metal Copyright27 million).

Zhongwang Group has annual production capacities of 750,000 tonnes of primary aluminum, 500,000 tonnes of carbon products, more than 1 million tonnes of aluminum extrusions and 1.8 million tonnes of aluminum rolling products.Asian Metal Copyright27 million.Asian Metal Copyright It is also engaged in the deep-processing of aluminum products used in the fields of NEVs, rail traffic and all-aluminum furniture.

.Asian Metal Copyright27 millionAsian Metal Copyright