SZKC Precision Technology Group, a leading manufacturer of aluminum alloy precision die castings in China, announced that the company held the 27th meeting of the second board of directors on October 22, 2020, and reviewed and approved the "Regarding the signing of investment agreement with the Economic and Technological Development Zone Management Committee" Proposal on Cooperation Agreement.
The company plans to purchase about 100 acres of land within the jurisdiction of the Economic and Technological Development Zone Management Committee to invest in the construction of the East China regional headquarters, 5G communications and new energy vehicle core device production and research bases. The company will establish a wholly-owned subsidiary to be responsible for the investment, construction, and operation of the above projects . The total investment of this project is about 2.15 billion yuan, which will be carried out in two phases.
The first phase plans to build 5G plastic metalized core devices and 5G radiator expansion projects, new energy automobile radiators and precision die castings expansion projects, 5G core devices and thermal management research and development projects, etc.;
The total investment of the second phase of the project is 1.05 billion yuan. The second phase is planned to build a consumer electronics heat dissipation expansion project, a new energy automobile precision die casting expansion project, and a thermal management research and development project.