China Zhong Wang to add 200,000tons capacity in next two years

Asia's largest aluminum profile manufacturer China Zhong Wang Holdings Limited announced Tuesday, the company plans to expand 200,000tons of production capacity in the next two years with the investment of 3billion yuan. It is expected that till the end of 2011, the capacity will reach 800,000tons.

The vice president of Zhong Wang Holdings Limited Lu Changqing released during the interview, the company will focus on the production of industrial aluminum profiles, which is much more profitable and will become a 100% industrial aluminum profile manufacturer in 2011. The data shows 93% of the company's gross profit comes from the industrial aluminum profiles in the nine months.

"The expansion of capacity is a key task for us." Lu Changqing said. At present, China Zhong-wang's production capacity is 60 million tons, and the capacity utilization was 86%, which is much higher than the industry average of 60% in the first half-year.

China Zhongwang Holdings Limited is a leading aluminum extrusion products manufacturer in Asia and China with a particular focus on the transportation sectors for industrial aluminum extrusion products. In May this year, the company is listed in Hong Kong.

On Tuesday, China Zhongwang shares closed down 0.68% percent at 7.28 HongKong dollars.

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