The British witten inverter project was forced to stop 40 million yuan

by:V&T Technologies     2020-03-15
On the evening of July 27, the British witten announcement, the company intends to terminate the annual output of 600 sets of explosion-proof inverter for construction project, the project total investment 40 million yuan, as of June 30, to raise funds has been invested 1845. 140000 yuan. According to the announcement, the project for the subsidiary xuzhou witten electric equipment co. , LTD. , annual output of 600 sets of explosion-proof transducer construction specifications 200 units, including 690 v, 1140 v 400 specifications. Project's main goal is according to the product structure and performance requirements of explosion-proof inverter characteristic, the formation of specialized production scale and better meet the demand of coal industry of frequency converter products market. For the cause of the termination of the project, the company explained that xuzhou subsidiary paid land transfer section for project construction. Because this plot plan adjustment, etc, during the project construction period has not yet obtains the land all card and relevant construction licenses, already affect the anticipated target of the construction of the project, lead to complete the project in the expected time and realize the investment returns face uncertainty. Raised after the termination of investment project, xuzhou subsidiary by the registered capital of 40 million yuan to 10 million yuan, the action of 9. 4 million yuan to raise money. The action of the 30 million yuan to raise funds will be returned to the company to raise funds only door. Xuzhou subsidiary land owned by a company consider seeking better make reasonable use of the project. Company said the termination of the above project aims to reduce the risk of investment to raise funds, explosion-proof inverter will not affect the company business development; Investment to set up subsidiary companies in suzhou, the specialty is engaged in explosion-proof electrical products production, make full use of suzhou and its surrounding areas has customers gathering, industrial chain advantage and good investment environment.
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