Wuxi Paike New Materials Technology (SHA:605123) increased the investment for the construction of a smart production line for precision ring forgings for aerospace and new energy materials to 1.30 billion yuan, according to a Shanghai bourse filing on Thursday.
The previous estimated investment was 1.296 million yuan.
The Chinese high-precision forgings manufacturer will establish the production line through its subsidiary, Wuxi Parker New Energy Technology Development, which will be located in Xishan District, Wuxi, China. The forgings that will be produced will be made of special alloys.
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