Shenzhen Kedali Plans Establishment of Controlled Subsidiary in Thailand for Harmonic Reducer Production Hub

Stock News06-16

Shenzhen Kedali Industry Co.,Ltd. (ASX: 002850) has announced its intention to jointly invest with Taiwan's Montronics Automation Co., Ltd. and Taiwan's Montronics Technology Co., Ltd. to establish a controlled subsidiary in Thailand named Thailand Kemeng Innovation Robot Technology Co., Ltd. (referred to as "Thailand Kemeng") and to invest in building a production base for harmonic reducers in Thailand.

The project has a planned investment not exceeding 350 million Chinese yuan. The company will hold a 51% stake in the venture, with funds allocated for purposes including but not limited to factory leasing and the acquisition or construction of fixed assets.

The facility will manufacture harmonic reducers, encompassing products such as harmonic reducers, precision mechanical components, controllers, and drivers. Upon reaching full production capacity, the base is projected to achieve an annual output value of approximately 700 million Chinese yuan.

The decision to invest in Thailand Kemeng is based on the anticipated future development prospects for harmonic reducers. The company views the current period as critical for industry and product advancement. By pooling resources from all parties involved, the joint venture aims to enhance overall efficiency and benefits, thereby expanding overall operational performance through this deep collaborative partnership.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment