On December 20, Jiangsu Newtech Technology Group Co., Ltd. (“Neutag” for short) issued an announcement that the company’s wholly-owned subsidiary, Jiangsu Mayer Auto Parts Co., Ltd. (“Jiangsu Mayer”) On March 19, the “Investment Agreement-Mayer Auto Parts Phase IV Project” and other related agreements were signed with the Management Committee of Huai’an High-tech Industrial Development Zone in Huai’an Science and Technology Park. It is reported that the main construction content of the project is the fourth phase expansion project of Jiangsu Mayer.
On the same day, Nutig announced that Jiangsu Mayer acquired 100% of the shares of Aohui Semiconductor held by Haidixin Semiconductor (Nantong) Co., Ltd. for 11.9 million yuan. After the completion of this transaction, Aohui Semiconductor will become a wholly-owned subsidiary of Neutag. It is understood that Jiangsu Mayer has signed an equity transfer agreement with Haidixin Semiconductor (Nantong) Co., Ltd. on December 19.
According to the announcement, the planned total investment of Jiangsu Maier Phase IV expansion project is about 168 million yuan, including the acquisition of 100% equity of Aohui (Huai’an) Semiconductor Technology Co., Ltd. 46.8 million yuan, equipment investment 57 million yuan, smart storage 25 million yuan, etc.
According to the plan, the planned land area of Jiangsu Mayer Phase IV expansion project is about 49.8 mu. The company purchased the idle Aohui Semiconductor plant located at No. 333 Changjiang East Road (now on the east side of Jiangsu Mayer Company) for investment and transformation. 42.8 mu (28,545 square meters) of land has been listed for sale, and about 7 acres of land have not been sold.
Nutag said that the purpose of this foreign investment is to expand the company’s own production capacity and expand the company’s scale, and enhance the company’s product market share and core competitiveness. After the investment and transformation of the project is completed, the company will increase the company’s machining capacity and storage capacity (intelligent three-dimensional warehouse) in aluminum casting parts. At the same time, the project address is located at No. 333 Changjiang East Road (now on the east side of Jiangsu Mayer), which is conducive to shortening the transportation distance between the die-casting factory and the machining factory, saving transportation costs and improving production efficiency.
It is understood that Nutag is mainly engaged in the R&D, production and sales of aluminum casting parts and plastic parts in the fields of automotive suspension systems, automotive interior and exterior decoration, etc. In terms of aluminum die-casting business, Nutig has mastered core processes and technologies such as vacuum die-casting technology, abnormal monitoring technology, ultra-low-speed laminar flow + partial extrusion combined casting technology.
A few days ago (December 12), Nutag issued an announcement that it plans to raise a total of no more than 350 million yuan, which will be used to invest in high-precision automotive aluminum casting expansion projects, mold workshop renovation and upgrading projects, and supplement working capital. Among them, the expansion project of automotive aluminum castings is implemented by Jiangsu Maier, a wholly-owned subsidiary of the company, and the construction site is located at No. 299 Changjiang Road East Road, Xindu Township, Huaiyin District, Huai’an City, Jiangsu Province. The project plans to purchase large-tonnage die-casting equipment and high-precision automatic machining equipment, and build a high-precision automotive aluminum casting production line to meet the production capacity and equipment level requirements of high-precision automotive aluminum castings.