On December 18th, Minglida Precision Technology Co., Ltd. in Shenzhen

Published: Dec 19, 2023 10:36

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On December 18th, Minglida Precision Technology Co., Ltd. in Shenzhen announced that its wholly-owned subsidiary, Jiangsu Minglida Technology Co., Ltd., intends to sign an investment agreement with the Management Committee of Hai'an High-tech Industrial Development Zone in Jiangsu Province to establish the "Aluminum Alloy Precision Die-casting Phase II Project" at 99 West East Haihe Road in Hai'an City High-tech Zone (inside Jiangsu Minglida Technology Co., Ltd.).

On the same day, Minglida also announced that the company plans to increase the capital of its wholly-owned subsidiary, Minglida Technology Co., Ltd. in Hong Kong, by $90 million (equivalent to RMB 643.70 million), with the company and Hong Kong Minglida each contributing $10 million (equivalent to RMB 71.52 million) and $90 million to establish a subsidiary in Mexico - Minglida (Mexico) Technology Co., Ltd. (tentative name), as the implementing entity for the investment and construction of the aluminum alloy extrusion production base project in Mexico.

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