Vanfund Teams Up With Scientist Wang Huaming to Form Industrial Metal 3D Printing JV
Tang Shihua
DATE:  Mar 09 2018
/ SOURCE:  Yicai
Vanfund Teams Up With Scientist Wang Huaming to Form Industrial Metal 3D Printing JV Vanfund Teams Up With Scientist Wang Huaming to Form Industrial Metal 3D Printing JV

(Yicai Global) March 9 -- The Beijing-based real estate developer Vanfund Urban Investment & Development Co. will partner with Wang Huaming, developer of a 3D printing technology for large metal components, to set up a joint venture to industrialize the related technology.

The company and other investors will make a total investment of CNY300 million (USD 47.3 million) to establish the JV, the real estate developer said in a statement on March 7. Vanfund aims to provide large key metal components for major equipment in defense and other industries using the 3D printing technology that Wang, who is also an academic at the Chinese Academy of Engineering, developed.

Vanfund will invest CNY30 million to hold a 10 percent stake in the joint venture, while its partners will spend CNY135 million holding 45 percent. Beijing Zhongxin Technology Partnership founded by the technology development team led by Wang will contribute CNY69 million to own 23 percent and individual investor Chen Xiaosong will offer CNY66 million to hold 22 percent, said the statement.

The newly formed joint venture will engage in large key metal components additive manufacturing technology, also known as industrial metal 3D printing, for major equipment and carry out in-depth research and development and industrialization of the technology's manufacturing process, complete sets of equipment, special materials and engineering application key technologies, the statement added.

Since 2005, the technology has been successfully applied in development and mass production of major equipment for aviation, aerospace, marine and energy industries such as advanced fighters, large aircrafts, launch vehicles, satellites, missiles, aero-engines and gas turbines, it said.

The establishment of the joint venture will help to enhance the company's profitability and overall competitiveness as there is growing demand for these products and strong profitability of the additive manufacturing technology, the statement added.

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Keywords:   Joint Venture,Investment,R&D,3D Printing,Large Metal Structure,Defense