Gold Cup Electric Apparatus (SHE:002533) plans to invest 700 million yuan to construct an electromagnetic wire production base in the Czech Republic, according to a Shenzhen Stock Exchange disclosure on Wednesday.
The factory, which will be built in two phases, will produce 20,000 tons of electromagnetic wire every year after its construction is completed in 2028.
The construction will implemented by Gold Cup Tongli European Electromagnetic Wire, a subsidiary that will be established through the Chinese wire and cable manufacturer's Singaporean unit, Gold Cup Electric Apparatus International Investment, the disclosure said.
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