Bolite plans about 1 billion yuan metal additive manufacturing base in Taicang, Jiangsu
In short
Bolite (铂力特, 688333.SH) said in an announcement on October 8 that it plans to invest about 1 billion yuan in a metal additive high-end manufacturing industrial base in the Taicang High-tech Zone in Jiangsu. The company plans to sign a letter of intent with the zone's management committee and set up a wholly owned subsidiary there. The project would buy about 100 mu of land, have a total floor area of about 104,000 square metres and take about 24 months to build.
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Bolite (铂力特, 688333.SH) said in an announcement that it plans to sign a letter of intent with the management committee of the Jiangsu Taicang High-tech Industrial Development Zone and register a wholly owned subsidiary in the zone to build a metal additive high-end manufacturing industrial base project, CLS reported on October 8. The total investment is about 1 billion yuan, according to the announcement as reported by CLS and 36Kr. Yicai also reported the planned investment of about 1 billion yuan. [ 1 , 2 , 3 ]
The project plans to buy about 100 mu of land and build workshops including one for manufacturing metal additive manufacturing equipment and one for printing high-precision metal additive products. The total floor area would be about 104,000 square metres, and construction is expected to take about 24 months, the company said. [ 1 , 2 ]
Funding sources include the company's own funds and bank loans, and raised funds are not involved, according to the announcement. The board has approved the investment, and it does not need to be submitted to a shareholders' meeting for approval. [ 1 , 2 ]
Why it matters
The project would give the company a new site in Taicang for making metal additive manufacturing equipment and printing high-precision metal additive products. The company said funding would come from sources including its own funds and bank loans, and that raised funds are not involved.
Key facts
- Bolite (铂力特, 688333.SH) plans to invest about 1 billion yuan in a metal additive high-end manufacturing industrial base project. [ 1 , 2 , 3 ]
- The company plans to sign a letter of intent with the management committee of the Jiangsu Taicang High-tech Industrial Development Zone and register a wholly owned subsidiary in the zone. [ 1 , 2 ]
- The project plans to buy about 100 mu of land. [ 1 , 2 ]
- Planned buildings include a metal additive manufacturing equipment workshop and a high-precision metal additive product printing workshop, with a total floor area of about 104,000 square metres. [ 1 , 2 ]
- Construction is expected to take about 24 months. [ 1 , 2 ]
- Funding sources include the company's own funds and bank loans; raised funds are not involved. [ 1 , 2 ]
- The board has approved the investment, and it does not need to go to a shareholders' meeting. [ 1 , 2 ]
Confirmed by several sources
- Bolite plans to invest about 1 billion yuan in a metal additive high-end manufacturing industrial base project. [ 1 , 2 , 3 ]
- The project would be run through a wholly owned subsidiary registered in the Taicang High-tech Zone, under a planned letter of intent with the zone's management committee. [ 1 , 2 ]
- The project plans about 100 mu of land, about 104,000 square metres of floor area and a construction period of about 24 months. [ 1 , 2 ]
- The board approved the investment, and no shareholders' meeting vote is required. [ 1 , 2 ]
Still unclear
- When the letter of intent will be signed. The documents say the company plans to sign it but give no date.
- When construction will start. The documents give a construction period of about 24 months but no start date.
- How the investment is split between the company's own funds and bank loans. The documents list funding sources but give no amounts for each.