Midas

Midas: Announced that it will invest Rmb600-650m in a new plant in Henan Province. Plant will include 2 aluminium alloy extrusion production lines, one downstream fabrication line, auxiliary machinery, land, buildings and other infrastructure. Construction is expected to be completed in 2H 2012….

With new capacity, Grp’s total annual extrusion production is set to increase by 40% to 70,000 tonnes. Its downstream fabrication capacity will also increase by 30% from to 1,300 train cars. New production plant will be funded by proceeds raised from grp’s HK secondary listing and internal resources. Developments are not expected to have a material financial impact on grp for FY11.