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Longyanbai Lianlian plans to invest 700 million yuan to set up Gansu Guotou.
May 19,2020 07:16CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM News: recently, in order to seize the development opportunity of the titanium industry, Yunnan National Titanium Metal Co., Ltd. (hereinafter referred to as "Yunnan National Titanium"), a holding subsidiary of Longpang Bailian Group Co., Ltd., intends to invest 700 million yuan to establish Gansu National Titanium Metal Co., Ltd. (hereinafter referred to as "Gansu National Titanium", tentatively named, the final name shall be subject to the approval and registration of the administrative department for industry and commerce).

Business scope: ilmenite mining, smelting of high titanium slag and production and management of by-products; production and sales of titanium sponge and its by-products; production, sales, export and import of titanium alloy and its by-products, raw and auxiliary materials, ordinary machinery and equipment, instruments and spare parts; production, sales and commissioned processing of stainless steel plate and stainless steel composite coil, nickel-based alloy products; Research and development, manufacture, sales and commissioned processing of nickel, zirconium and hafnium rare metals, alloy materials and their metal products; design, manufacture and sales of titanium equipment and technical maintenance; technical consulting services; manufacture, installation and maintenance of smelting equipment. Rental of self-owned houses, equipment, etc.

The purpose of establishing a subsidiary and its impact on the company

Titanium has the outstanding characteristics of low density, high strength, low thermal conductivity, good resistance to high temperature and low temperature, strong corrosion resistance, good biocompatibility and so on. it is widely used in aviation, aerospace, warships, weapons, biomedicine, chemical metallurgy, marine engineering, sports and leisure and other fields, known as "space metal", "ocean metal", "modern metal" and "strategic metal". Titanium industry is the basic industry of national economic development and industrial upgrading, which is of strategic significance to the development of national defense, economy, science and technology. China has issued a series of policies to support the development of titanium industry.

Under this background, in order to seize the development opportunity of the titanium industry, Yunnan Guoti established Gansu Guoti, relying on the existing sponge titanium, high titanium slag and large-scale "boiling furnace" chlorination technology of the company and its subsidiaries, making full use of Gansu's local industrial chain agglomeration and supporting advantages to build a competitive and characteristic titanium industrial base in the western region, which will help the company to further improve the layout of the titanium industry. To improve the company's core competitiveness and profitability is in line with the company's development strategy and the interests of all shareholders. This investment is invested by Yunnan Guoti with its own funds, which will not adversely affect the financial and operating conditions of the company and Yunnan Guoti, and there is no harm to the interests of the company and all shareholders.

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