GRIPM Advanced Materials (SHA:688456) plans to set up a subsidiary and an industrial base for 200 million yuan, according to a Shanghai Stock Exchange disclosure on Friday.
The planned subsidiary GRINM Additive Technology (Shandong) will have a registered capital of 50 million yuan and will produce metal powder materials for additive manufacturing.
The subsidiary will manage the industrial base, which will manufacture additive and special alloy powder materials. The project, to be located in Binzhou Economic and Technological Development Zone, Shandong, China, will have a construction area of square meters and will be constructed within 18 months.
The Chinese non-ferrous metal powder manufacturer plans to increase the capital of its subsidiary, GRINM Additive Technology, for the establishment of the subsidiary.
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