Bright Laser Technologies announced that the company intends to sign a letter of intent for investment with the management committee of the Taicang High-Tech Industrial Development Zone in Jiangsu Province, to register a wholly owned subsidiary in the Taicang High-Tech Zone, and to invest in the construction of a high-end metal additive manufacturing industrial base project, with a total investment of about 1 billion yuan. The project plans to acquire about 100 mu of land, build a metal additive manufacturing equipment workshop, a high-precision metal additive product printing workshop, and other facilities, with a total floor area of about 104,000 square meters and a construction period of about 24 months. Funding sources include self-owned funds and bank loans, and do not involve raised funds. This investment has been approved by the board of directors and does not need to be submitted to the shareholders' meeting for review.
Xi an Bright Laser Tech Co LtdBright Laser Technologies plans to invest ~1 billion yuan in a high-end metal additive manufacturing industrial base, a major capex expansion approved by its board.
