Guangdong Dongyangguang Aluminum （600673） intends to improve its chemical industry chain through new joint venture （JV） companies, reports Shanghai Securities News.
Dongyangguang Aluminum and its controlling shareholder’s subsidiary, Ruyuan Longwan Mechanical will jointly establish a JV company named Ruyuan Dongyangguang Solar Cell. The new JV company will have a registered capital of 50 million yuan, of which Dongyangguang Aluminum will invest 37.5 million yuan.
Dongyangguang Aluminum also intends to collaborate with Ruyuan Dongyangguang Magnetic Material to start an inverter company and with Shaoguan Dongyangguang Capacitor to establish an energy storage device manufacturer.
In addition to new energy, Dongyangguang Aluminum also plans to expand in the new material industry by spending a total of 145 million yuan to establish two fluorochemical companies to hold a 85 percent stake and a 75 percent stake, respectively.
Dongyangguang Aluminum also announced it will establish an aluminum subsidiary, Ruyuan Dongyangguang Aluminum, as well as three other subsidiaries.
The company is also planning to cooperate with the Tongzi County government in Guizhou province on two production lines with annual production capacities of 100,000 tons of ordinary aluminum plates and 60,000 tons of refined aluminum plates.
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