XGMA, China, excavator,--Xiamen XGMA Machinery To Invest 730M Yuan On Production Expansion

June 22 -- Xiamen XGMA Machinery (600815) plans to start a 730 million yuan technical upgrade project, reports China Securities Journal, citing a company filing. The company plans to increase its excavator production capacity from the current 3,000 units per year to 12,000 units per year; newly produced excavators will be between 6 to 15 tons. The expansion is expected to contribute annual revenue and net profit of 5.85 billion yuan and 470 million yuan, respectively. Expected total investment return is 33.06 percent with payback period of 5.96 years.