On the evening of August 26, FJSX Advanced Materials Technology Group announced that the company intends to jointly invest in magnesium-aluminum alloy projects with CAT, aiming to promote the company's strategic development plan and deployment in the new material industry and continuously enrich the industrial chain.
FJSX stated that the "Investment Agreement" signed this time is conducive to making full use of the resources and advantages of all parties and can accelerate the industrialization and mass application of magnesium aluminum alloy materials in China. This cooperation will help further enhance the company. The company`s competitiveness and industry influence will enhance the company’s overall profitability, and realize the company`s sustainable development and maximize shareholder benefits.
The density of magnesium alloy is 33% lighter than aluminum alloy and 77% lighter than steel. It is one of the lightest materials in industrial metal structure materials. Magnesium alloy has good damping and vibration reduction performance, which can greatly reduce vibration noise and absorb impact energy. At the same time, it also has good heat dissipation, anti-electromagnetic interference, excellent casting performance and processing performance, and good recycling and reuse. It has a wide range of application prospects in the automotive, aerospace, and electronic communication fields, and the market prospects are good.