Hebei Sitong New Metal Material

Hebei Sitong New Metal Material Co. Ltd. plans to buy a 39.8% stake in an aluminium company from Nippon Kinzoku and two other firms for CNY 310.5 million ($45.05 million).

Hebei Sitong New Metal Material plans to invest CNY 540 million (USD 76.8 million) to build a new factory in Baotou, Inner Mongolia, for commercial vehicle wheels and rare-earth aluminum alloys. The project includes a 50,000-ton rare-earth aluminum alloy line and a 600,000-unit wheel assembly line.