Tongguan Copper Foil to Invest 154 Million Yuan to Renovate Production Lines; Shares Up 5%

MT Newswires Live10-28 15:51

Anhui Tongguan Copper Foil (SHE:301217) agreed to invest 154.2 million yuan to renovate some of its production lines, according to a Shenzhen bourse filing on Wednesday.

The amount comprises 66 million yuan, which will be used to upgrade the company's electrodeposited copper foil machines in certain workshops, and 88.2 million yuan that will be used to renovate subsidiary Tongling Tongguan Electronic Copper Foil's surface treatment production line.

The production lines, which will both undergo a 12-month construction period, will produce HVLP copper foil products.

The Chinese electronic copper foil manufacturer's shares jumped 5% during the afternoon trade.

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