Shaanxi Aerospace Power Hi-Tech to Invest 81 Million Yuan in Precision Machining Project
MT Newswires Live03-19
Shaanxi Aerospace Power Hi-Tech (SHA:600343) subsidiary Aerospace Yuanxin will invest 81 million yuan in a precision machining capacity construction project in the company's High-tech Zone facility in Xi'an, Shaanxi
The project will add 26 sets of process equipment and automation lines, according to a Thursday filing with the Shanghai bourse. It aims to expand mass production capabilities for high-precision components, reduce production costs and improve equipment utilization.
Construction will take 24 months.
Shares of the manufacturer of general machinery and professional equipment were down 1% in recent trade.
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