Salt Lake Group invests 182 million to set up a wholly owned subsidiary

NetEase Financial July 29, Salt Lake Group Thursday Evening Bulletin said, the company intends to invest in the establishment of Qinghai Salt Lake Special Magnesium Co., Ltd.,　　Project total investment of 182.2394 million yuan, of which: construction investment of 156.59 million yuan, registered capital of 40 million yuan has been put into the company, the total project investment in addition to its own funds to take the form of debt solution.　　The announcement indicated that the project construction scale is the annual output 4000t magnesium alloy die casting, the company takes the am60b, semi-solid and so on magnesium alloy mainly, according to the market demand production automobile dashboard beam, the 3C class product shell, the Aero engine part waits for, the 3C class, the aerospace uses magnesium alloy die-casting product.　　Salt Lake Group said that after the completion of the project, the Qinghai Salt Lake Industry Group Co., Ltd. can further extend the industrial chain, optimize the industrial structure, expand the industrial scale, improve economic efficiency and enhance the competitiveness of enterprises in the market. Qinghai Salt Lake Special Magnesium Co., Ltd. products up to the postpartum, annual after-tax profit of about 35.1 million yuan/year. Payback period is expected to be static investment payback period of about 5.2 years.