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Home / Metal News / Tight Cash and Industry Woes Force Loften to Halt Construction of 450,000-tpy Precision Aluminum Sheet, Strip Project

Tight Cash and Industry Woes Force Loften to Halt Construction of 450,000-tpy Precision Aluminum Sheet, Strip Project

Jan 9, 2015 14:19

Source:SMM

Loften Environmental Technology Co. is planning to halt construction on phase one cold-rolling lines of its 450,000-tpy precision aluminum sheet and strip project.

SHANGHAI, Jan. 9 (SMM) – Loften Environmental Technology Co. is planning to halt construction on phase one cold-rolling lines of its 450,000-tpy precision aluminum sheet and strip project, it said in a statement filed to the Shenzhen Stock Exchange on January 6, 2015.

The company cites cash shortage and unfavorable market conditions as main reasons behind this decision.

Part of the project had entered operations in 2014.

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Loften Environmental Technology Co.

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