China-Kinwa High Tech to build electronic material base in Qinghai

May. 6, 2009 (China Knowledge) - China-Kinwa High Technology Co Ltd<600110> on Tuesday signed a letter of intention with the holding company of Xining Economic and Technological Development Zone, to jointly set up an electronic material production base in Qinghai Province, Northwest China, the Shanghai Securities News reported.

The two companies will invest a total of RMB 3 billion for the new base, which is designed to produce copper foil, copper clad laminates, printed circuit boards and related applications, lithium battery materials and green high-capacity batteries by using the rich copper and lithium mining resources in Qinghai.

The project is expected to realize sales revenue of RMB 10 billion by 2015.

The two sides have not reached any agreement on the financial details of the investment so far.

Shanshan Group, a Ningbo-based manufacturer and distributor of men's garments and apparel, is the largest shareholder of China-Kinwa.