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China Apex Ninestar Wants To Spend $1.4Bln
For New Zhuhai Printer Manufacturing Plant.
Ninestar Plans Laser Printing Equipment Manufacturing Project In Zhuhai
In response to the national ‘Made in China’ policy, Ninestar has revealed that it is embarking on the manufacture of high-end equipment for laser printers.
According to Ninestar, the company will be investing a total of approximately CNY 9 billion ($1.4 billion/€1.1 billion) in the manufacturing project, with the goal of becoming one of the top three global laser printer producers.
Ninestar signed an investment agreement regarding the project at the 21st meeting of the company’s 5th Board of Directors.
The “main content” of the agreement involved the establishment of a project company in the jurisdiction of Gaolan Port Management Committee, and revealed that once “the projects have been completed and put into production” Ninestar hopes to achieve an annual output of “approximately 4 million units” in addition to an annual output value of approximately CNY 20 billion ($3.1 billion/€2.5 billion) and an annual tax revenue of about CNY 500 million ($79.4 million/€64.5 million).
Regarding the proposed scale of the manufacturing project, Ninestar estimated that it would occupy an area of roughly 900, 000sqm of land slated for industrial use. The total construction period given for the project is cited as being about 8 years.
According to the Articles of Association, Shenzhen Stock Exchange Listing Rules “and other relevant laws and regulations”, the project “must be reviewed and approved by the general meeting of shareholders before it can be implemented”, and its implementation also requires governmental approval.
https://www.reuters.com/article/brief-ninestar-plans-laser-printing-equi/brief-ninestar-plans-laser-printing-equipment-manufacturing-project-in-zhuhai-idUSH9N1RU00S / http://www.cninfo.com.cn/finalpage/2018-04-20/1204668324.PDF
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