Wuchan Zhongda further expands presence in lightweight metal market
2025-01-13 16:24:47 [Print]
Wuchan Zhongda (Zhejiang) Industrial Investment, a subsidiary of Wuchan Zhongda Group, has completed the acquisition of a controlling stake in Anhui Shunfu Precision Technology Co., Ltd. through the transfer of issued and outstanding shares and a capital increase. This marked the second acquisition after the company acquired a controlling stake in magnesium ingot producer Zhejiang Qixin Alloy in 2023, further expanding its presence in lightweight metal market.
Wuchan Zhongda Industrial Investment is on track to establish a closed cycle of magnesium industry, with investment already implemented in upstream resources and mid-to-lower end of products.
Shunfu Precision has been engaged in die-casting of aluminum alloy for more than 10 years, and is capable of producing automotive grade die-castings, which are used for transportation, electronic communications, energy storage systems and many other application scenarios. With supports from shareholders, Shunfu Precision is dedicated to providing integrated solutions for customers with demand for lightweight and high-performance materials. Relying on Wuchan Zhongda's investment in upstream magnesium resource, Shunfu Precision aims to deepen cooperation with old and new clients, universities and research institutes on the development of new materials, to further diversify product mix, improve sustainability and boost development.
Wuchan Zhongda Industrial Investment expects to increase investment in acquired assets to accelerate industry cultivation and transformation.
Wuchan Zhongda Industrial Investment is on track to establish a closed cycle of magnesium industry, with investment already implemented in upstream resources and mid-to-lower end of products.
Shunfu Precision has been engaged in die-casting of aluminum alloy for more than 10 years, and is capable of producing automotive grade die-castings, which are used for transportation, electronic communications, energy storage systems and many other application scenarios. With supports from shareholders, Shunfu Precision is dedicated to providing integrated solutions for customers with demand for lightweight and high-performance materials. Relying on Wuchan Zhongda's investment in upstream magnesium resource, Shunfu Precision aims to deepen cooperation with old and new clients, universities and research institutes on the development of new materials, to further diversify product mix, improve sustainability and boost development.
Wuchan Zhongda Industrial Investment expects to increase investment in acquired assets to accelerate industry cultivation and transformation.
Magnesium Alloy AZ91D FOB China
Unit:USD/mt
China magnesium alloy producers' suspension number statistics by month
Unit: pcs
