Wanshun New Materials subsidiary Jiangsu Zhongji announced its plan to establish an aluminium strip project with an annual output of 130,000mt in Guangyuan City Economic and Technological Development Zone, Sichuan Province. The project will be known as Sichuan Wanshun Zhongji with a total investment of CNY1.192bn.
Wanshun is engaged in packaging material, aluminium foil, and functional film. In February 2010, the company was listed on the Shenzhen Stock Exchange.
Jiangsu Zhongji was founded in 2004, with a registered capital of $100mn. The company is a new technology enterprise and focuses on high precision aluminium foil. In April 2012, Wanshan Group completed the acquisition of 75pc Zhongji.
($1= CNY6.47)