Mesnac to Raise RMB 1.2 Bln for Tire Equipment Base

Mesnac Co., Ltd. (002073.SZ) announced on March 17 to raise no more than 1.2689437 billion yuan through private placement of 127 million shares.

It is learned that the company, after the deduction of issuance expenses, planned to allocate 512.6894 million yuan for the construction of a tire equipment intelligent manufacturing base.

Beside, it will set aside 370.0264 million yuan for the construction of the second phase of its robots and intelligent logistics base, 243.0609 million yuan for the R&D center for smart tire factories, and 143.1670 million yuan for smart tire application technologies center.

Based on its core business of rubber tire equipment, the company will build the tire equipment intelligent manufacturing base via digital R&D, digital production and intelligent services, the company said.

The project will be implemented by its wholly-owned subsidiary Qingdao Mesnac Electromechanical and Engineering Co.,Ltd.. Located in the Jiaozhou Equipment Industrial Park, the project involves a total investment of 512.6894 million yuan.

After the completion of the project, Mesnac is expected to realize intelligent production and large-scale customization of equipment, create a big data center for in-depth analysis of the tire industry, and offer intelligent, value-added services.