Western materials will be involved in high-end titanium material

Western materials (002149) today, the company has completed a private release, of which the XI ' an aerospace technology industry company subscribed to 23.5 million shares, the major shareholder of the Northwest Nonferrous Metals Research Institute subscribed to 1.5 million shares,　　The issue price of 20.19 yuan per share, a total of 504.75 million yuan to raise funds, the new shares will be listed on the Shenzhen Stock Exchange since May 19. According to the western materials, the fund-raising is mainly used to acquire the Western Titanium industry Equity and annual output of 5000 tons of titanium technology project. Raise funds into the project to the postpartum, the company will have from titanium ingots, billet to pure titanium to titanium composite materials to a variety of components equipment, complete titanium processing industry chain.　　Titanium related income will also account for the company's operating income leading position. It is noteworthy that the western materials through the non-public issue of the introduction of strategic investors in XI ' an aerospace, its shareholding of 20.19%, become the company's second largest shareholder. The company said that Xi ' an aerospace is mainly engaged in launch vehicle and engine development and production, titanium material is an important demand side. (Hou Junqiang)