Zhongwang Group to invest in aluminium alloy processing project in Henan in collaboration with government

According to a news release on the Henan people’s government on Saturday February 23, Luoyang government of Henan province has signed a contract with aluminium extrusion producer Liaoning Zhongwang Group last week to construct an aluminium alloy processing plant in Yichuan country of Luoyang.

China’s Zhongwang group is the World’s second largest and Asia’s largest industrial aluminium extruded products developer and manufacturer. After more than 20 years of dedicated development, the Group currently has over 90 aluminium extrusion production lines  with an aggregate annual production capacity of close to 2 million tonnes.

The alloy processing unit will have an annualised capacity of 1 million tonnes and the project will receive an investment of 21 billion yuan from Zhongwang Group. The project will manufacture car bodies and parts for passenger and special vehicles. Annual project revenue is expected to exceed RMB 40 billion once it reaches full production stage.

Zhongwang’s aluminium alloy formwork business grew stably through 2018 and continued to drive the Group’s business performance. Last year, the group chairman talked about working on technological improvement and product innovation, constantly improving quality and adding value to their products. Performance of high-end products including aluminium alloy formwork and railways and automotive parts drove steady business growth of the Group.

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