China’s Hailiang Plans Morocco Copper Plant to Tap Western Users
- Company is expanding overseas as margins shrink at home
- New plant will cost $288 million and take three years to build
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Zhejiang Hailiang Co., a major producer of copper tubes and rods, plans to build a plant in Morocco for $288 million that manufactures new energy materials, including lithium-battery foil, to tap rising demand around the world.
The Chinese company aims to better serve clients in Europe, America, the Middle East and Africa through the new base, as geopolitical strains cause huge risks to trade and supply chains, it said in a filing on Tuesday to the Shenzhen Stock Exchange.