Guangdong Hongtu to establish subsidiary for Mg-alloy die-casting operations

Guangdong Hongtu Technology Co., Ltd. announced on September 2 that it plans to invest in a new wholly-owned subsidiary in Gaoyao District, Zhaoqing City, to engage in magnesium alloy die-casting operations. The new entity will serve as the implementation vehicle for building relevant production capacity, with a total project investment of RMB274 million (USD40.79 million).