Loading…
Sitong New Materials announced that its subsidiary Lizhong Stock became a designated supplier of aluminum alloy wheels for a Beijing Benz vehicle project.
SiTong New Materials acquired 100% of Tianjin Lizhong Group Co., Ltd. (Lizhong) for RMB 2.55 billion, approved by the China Securities Regulatory Commission on December 20, 2018. The company also raised RMB 516 million in matching funds for projects including an aluminum alloy wheel plant and Industry 4.0 factory upgrades.