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A project signing ceremony was held in Torch Development Zone on August 1 for the intelligent manufacturing base for titanium-alloy coiled tubing and titanium-alloy products invested by Guangdong Foreweld Co.

Founded in 2009, Foreweld is a technology-based enterprise specialized in the development and production of high-end welding automation equipment and welding materials. Its products are applied to a wide range of fields such as aviation, aerospace, chemical engineering and pressure vessel making.

With a total investment of 500 million yuan, the project is located in Jieyuan Village, Minzhong District. It is expected to generate an annual output value of 830 million yuan and additional tax revenues of 110 million yuan at its full capacity.

Foreweld will also establish a research institute of titanium-alloy coiled tubing, as well as a laboratory of domestic mandatory standards authentication.