Nanshan Aluminum to set up a joint venture to set up a renewable resources company will add 100000 tons of recycled aluminum alloy production capacity

Published: Aug 3, 2021 11:13
[Nanshan Aluminum plans to set up a joint venture to set up a renewable resources company that will add 100000 tons of recycled aluminum alloy production capacity] Nanshan Aluminum and United New Materials Technology Investment Co., Ltd. jointly funded the establishment of Longkou Nanshan Renewable Resources Co., Ltd. The registered capital of the joint venture company is 330 million yuan, of which the company plans to contribute 198 million yuan with its own capital, accounting for 60% of the registered capital. The joint venture company is mainly engaged in high-quality recycled aluminum grade protection and comprehensive utilization projects, and the recovery sources are mainly tank body, can cover, automobile plate factory process waste and market recovery cans, plus aviation material milling debris material.

SMM8: on the evening of August 2nd, Nanshan Aluminum (600219) issued a notice that in response to the national "14th five-year Plan", effectively implement the "double carbon" goal and policy, and promote the recycling of aluminum resources, the company plans to jointly invest with United New Materials Technology Investment Co., Ltd. to establish "Longkou Nanshan Renewable Resources Co., Ltd.", mainly engaged in metal scrap and debris processing and sales business.

The registered capital of the joint venture company is 330 million yuan, of which the company plans to contribute 198 million yuan with its own capital, accounting for 60% of the registered capital, and United New Materials plans to contribute 132 million yuan with its own capital, accounting for 40% of the registered capital.

The joint venture company is mainly engaged in high-quality recycled aluminum grade protection and comprehensive utilization projects, and the recovery sources are mainly tank body, can cover, automobile plate factory process waste and market recovery cans, plus aviation material milling debris material. After the proposed project is approved and completed, Nanshan Aluminum will increase the production capacity of 100000 tons of recycled aluminum alloy materials.

Through the use of waste aluminum as raw materials to produce recycled aluminum products, the energy consumption is less than 5% of the original aluminum production, has significant social benefits in resource conservation, energy saving and emission reduction, and environmental protection, and can effectively respond to the national "double carbon" policy objectives. reduce carbon emissions.

The project adopts advanced waste aluminum recycling smelting process, double-chamber furnace and foreign multi-chamber furnace smelting process, which can effectively improve product quality and enhance product market competitiveness. at the same time, it provides high-quality raw material supply for the company's downstream deep-processed products. In addition, the recycled aluminum project can effectively recover the waste aluminum of the upstream enterprises, and form a matching with the downstream enterprises through the direct supply of aluminum water, realizing the energy saving, emission reduction and clean production of the industrial chain, and filling the gap in the field of recycling and utilization of recycled aluminum in our country.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
22 hours ago
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Read More
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.
22 hours ago
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
22 hours ago
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Read More
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.
22 hours ago
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
22 hours ago
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Read More
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.
22 hours ago
Nanshan Aluminum to set up a joint venture to set up a renewable resources company will add 100000 tons of recycled aluminum alloy production capacity - Shanghai Metals Market (SMM)