Brief: Huazhong In Vehicle's Unit Reached Deal For Formation Of JV, And Hold 40% In JV

Huazhong In Vehicle Holdings

06/09/2021 11:18

Sept 6 (Reuters) - Huazhong In Vehicle Holdings Co Ltd
 6830.HK :
    * UNIT, NINGBO FANGZE TECHNOLOGY REACHED DEAL TO JOINTLY
INVEST IN
FORMATION OF JV, AND HOLD 40% AND 60% STAKE IN JV
    * JV PRINCIPALLY ENGAGED IN METAL POWDER INJECTION MOLDING
PROJECTS AND METAL 3D ADDITIVE MANUFACTURING BUSINESS
    * TOTAL INVESTMENT FOR PHASE I OF PROJECT IS ABOUT RMB100
MILLION
    * EXPECTED THAT TOTAL INVESTMENT FOR PHASE II OF PROJECT IS
RMB200
MILLION
    * UPON COMPLETION OF CONSTRUCTION OF PHASE I, ANNUAL OUTPUT
VALUE
WILL BE ANOUT RMB150 MILLION WITHIN THREE YEARS
    * UPON COMPLETION OF PHASE II, IT IS EXPECTED THAT ANNUAL
OUTPUT
VALUE WILL BE RMB500 MILLION


Further company coverage:  6830.HK 

 ((Reuters.Briefs@thomsonreuters.com;))