NBTM New Materials Group's (SHA:600114) unit, Shanxi NBTM Magnetic-Electric, received the real property ownership certificate for the land that will serve as the site for a planned industrial base, according to a Shanghai bourse disclosure on Wednesday.
The land is located in Linyi County and has a land area of 74,879.54 square meters.
The Chinese powder metallurgy new materials manufacturer will build an industrial base, which will produce 60,000 tons of soft magnetic material.
The company's shares jumped over 5% during afternoon trade.
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