10 NOVEMBER 2014Shanghai Metal Market
Mingtai Al. to Raise $122 Mln via private placement for aluminum extrusion project
Edited by : AL CIRCLE
1 min read
Henan Mingtai Al. Industrial Co. plans to raise no more than 750 million yuan ($122 million) via private placement to build 20,000-tpy transport aluminum extrusion project, the company said in a statement filed to the Shanghai Stock Exchange on November 7.
The project will be located in Xingyang City, Henan province, where several railway lines converge. Construction is scheduled to last two years, it added.
China’s output of aluminum extrusions in transportation applications grew at a CAGR of 30.5% between 2005-2011. But aluminum extrusions in transportation applications accounted for a mere 11.9% of total aluminum extrusion consumption in China in 2011, much lower than in developed countries. This implies great market potential in the segment.
The project will be located in Xingyang City, Henan province, where several railway lines converge. Construction is scheduled to last two years, it added.
China’s output of aluminum extrusions in transportation applications grew at a CAGR of 30.5% between 2005-2011. But aluminum extrusions in transportation applications accounted for a mere 11.9% of total aluminum extrusion consumption in China in 2011, much lower than in developed countries. This implies great market potential in the segment.
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