Tongyu Heavy Industry Co Ltd announced that it will establish a Qingdao-based wholly owned subsidiary, which will be engaged in the export of special steel, castings and forgings, molds, CNC machine tools, general machinery nonstandard equipment, metallurgical equipment and spare parts, automobile spare parts, construction machinery and spare parts, pressure vessels, hydraulic metal structures and equipment, general aviation equipment and parts, electrical equipments, carbide products and metal ceramic blade. The subsidiary will be with a registered capital of RMB 50 million.
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