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Pangang vanadium and titanium subsidiary plans to increase capital in titanium dioxide enterprise

Pangang vanadium and titanium announced that the wholly-owned subsidiary Pangang Group Titanium Industry Co., Ltd. plans to increase capital in Panzhihua Oriental Titanium Industry Co., Ltd. and will absolutely control Oriental titanium industry after the capital increase. According to the public information, Dongfang titanium has a production line with an annual output of 40000 tons of titanium dioxide, 160000 tons of sulfuric acid and 40000 tons of waste acid. Due to the second phase capacity expansion of Oriental titanium industry, the production capacity of rutile titanium dioxide will be expanded to 100000 tons/year, and the project is expected to invest 450million yuan. Through negotiation between Pangang vanadium titanium and Dongfang titanium, it was determined that the subsidiary of the company, that is, Pangang titanium, would increase the capital of Dongfang titanium by 97million shares, with a capital contribution of about 170million yuan. After the capital increase and share expansion, Panzhihua Iron and steel titanium industry held 65% of the shares, thus realizing that Panzhihua Iron and steel titanium industry has a lot of experience and calculation formulas on the relationship between the surface roughness of the experimental machine parts and the dimensional tolerance of the experimental machine parts. It introduces the absolute holding of the titanium industry, which is in line with the strategic goal of the company to expand vanadium and titanium

in addition, Pangang vanadium and titanium also decided to launch the phase II auto parts project of its subsidiary Panzhong Yihong metal products (Chongqing) Co., Ltd. It is reported that the total investment of the project is controlled by 163million yuan, of which 40% is the enterprise's own funds, and the rest of the funds are loans from banks. The project has good dimensional stability. It will build a new main plant with a construction area of 8664 square meters and a new 4500mm × 2000mm blanking (pendulum shear) production line, a 3600mm laser butt welding production line and a 650mm cross cutting production line, and other supporting facilities, with an annual comprehensive capacity of 160000 tons

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