MINTH GROUP (00425.HK): Groundbreaking ceremony held for new production plant in Alabama, US; planned phased investment of approximately USD 430 million
NewTimeSpace News: Minth Group Limited (stock code: 00425) published a voluntary announcement, announcing that on 3 August 2026 the Group, together with the City of Gadsden, held a groundbreaking ceremony for the Group's new production plant in Gadsden, Alabama, United States. The plant will be developed on a site of approximately 400 acres formerly occupied by Republic Steel and Gulf States Steel, with the Group expecting to invest a total of approximately USD 430 million in phases; upon completion and full operation, it is expected to create more than 1,300 jobs and become the Group's largest plant site globally.
The first-phase capacity of the project is expected to commence production in 2027. Since acquiring the site in March 2026, the Group has advanced the site preparation and redevelopment works and has initiated highly vertically integrated capacity planning and feasibility analysis covering its four product lines of body structural, plastic, aluminium and metal and trim products. The Group principally operates two major businesses of automotive components and tooling, and is developing a second growth curve in new areas including artificial intelligence, robotics, low-altitude economy and intelligent mobility.
The Board considers that the project will strengthen the Group's manufacturing presence in North America and enhance its localised production and service capabilities; the estimated investment amount, construction timeline, expected production commencement and job figures are based on the Group's current plans and estimates and may change due to factors including construction progress, market conditions and regulatory approvals.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
