Xinxing cast pipe 3.3 billion Wuhu jian new base play upgrade combination boxing

In order to speed up the development of the company and promote the upgrading of the industrial structure, the new cast pipe (000778) today launched a number of industrial upgrading programs, including the investment of 3.328 billion yuan in wuhu construction of large-scale casting and forging base. The announcement shows that the new casting pipe wholly-owned subsidiary Wuhu Xinxing Pipe Co., Ltd. to further accelerate the development, make full use of the location advantages and convenient traffic conditions of Wuhu San Shan Industrial Park, to build a large-scale casting and forging base project in Wuhu Sanshan Industrial Park;　　Improve the international competitiveness of products, the company intends to spend 512 million yuan to build special steel pipe finishing project; In addition, in order to realize the complementarity of resources and technology, the development of nuclear power with "U"-type pipe and large-diameter precision steel pipe, to be signed on the restructuring of the three continents Precision Steel Pipe Co. In the above three projects, Wuhu's large-scale casting and forging base project is attracting more attention. According to the proposed plan, the large scale casting and forging base project will form an annual output of 600,000 tons of international standard production of a new cast pipe, an annual output of 150,000 tons of single casting (forging) parts, the maximum weight of more than 200 tons of large castings and forgings production capacity. Project Total investment is expected to be 3.328 billion yuan, of which the project fixed assets investment of 2.817 billion yuan, liquidity of 511 million yuan. In the fixed assets investment, the plan 2011 invests 1.65 billion Yuan, 2012 invests 1.167 billion yuan.　　After the completion of the project, Wuhu Xinxing Company's existing production capacity of the casting pipe will be phased out. In order to promote the successful implementation of the large-scale casting and forging base project in Wuhu, the new cast pipe has been negotiated and communicated with the local bank, and the local bank intends to provide loan support for the construction of the new mountain large casting and forging base project of Wuhu, and conclude the syndicated loan agreement of the intention.　　That is, the total loan amount is 1.72 billion yuan, the loan period 8 years, the loan interest rate to carry out the same grade renminbi loan benchmark interest rate to float 10%, the loan grace period 3 years, from the 4th year starts to the loan expiration carries on the equal repayment. In the reorganization of the three continents of precision matters, the new casting pipe of the original shareholder Shanghai Investment Management Center will withdraw from the three-Chau precision Pipe Company, its holding shares will be transferred to the Sichuan Tri-Chau Special Steel Pipe Co.　　At the same time, from the emerging casting pipe and the three Chau special tube to the three-Chau precision pipe to increase the capital, the initial increase in investment after the registration of 360 million yuan, of which the new cast pipe shareholding 60%, three continents Special management shareholding 40%. In addition to the upgrading of the product structure, the emerging casting pipe also introduced a management model upgrade program, that is, the newly established new xinxing Casting Pipe Co., Ltd. Wuan material supply and marketing branch. It is reported that the production base of the new cast pipe by Han Wu, Wuhu, Yellowstone and Xinjiang and other industrial areas, due to a wide geographical distribution, space distance far, the current industrial areas of material supply and marketing system is relatively independent, lack of unified coordination and operation mechanism. The establishment of Wuan material supply and Marketing branch is to achieve "explore the centralized procurement model experience to achieve effective reduction of procurement costs" goal.