Sitong New Metal Material plans to construct USD 72 million aluminium alloy plant

Hebei Sitong New Metal Material announced plans to build RMB 500 million (USD 72 million) facility for the production of aluminium alloys in Jiangsu. The company will also construct an R&D and sales unit in the plant.

Hebei Sitong New Metal Material had already signed an agreement with the Jiangsu municipal government for the construction of the plant, China Knowledge reported.

Hebei Sitong New Metal Material Co., Ltd, founded in 1998, mainly engages in R&D, production and sales of functional intermediate alloy, new materials and aluminium alloy wheel lightweight. The company exports its products to about 40 countries around the world.

The new aluminium alloy plant is part of the company’s effort to take advantage of the growing 5G industry in China. The company expects to begin trial production at the facility in 2020, with full operations in 2021.

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