# Hengfeng Tools plans private placement of CNY 360 million for smart manufacturing upgrade

Hengfeng Tools announced a private placement to raise up to CNY 359.7871 million for a smart manufacturing optimization and upgrade project, including new plant construction and renovation of old facilities, to produce CNC precision equipment and smart automation equipment.

- Type: Investment
- Announced: 2020-07-15
- Where: China
- Value: $51.4M (359.8M CNY)
- Status: announced
- Capacity: 12万件套 precision complex cutting tools, 50 CNC precision equipment per year, 400 smart automation equipment per year
- Products: precision complex cutting tools, CNC precision equipment, smart automation equipment
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Hengfeng Tools](https://endata.com/companies/48598.md)

## Sources

- [cctar.cn](https://www.cctar.cn/news/2133.html), 2020-07-16: "如果募投项目顺利实施，公司将通过建立独立完整的研发与制备体系，进一步增强生产智能化水平。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.