Xugong Machinery announced on Sunday that the company intends to increase capital of US$99.7 million in cash to Xugong Group Brazil Manufacturing Co., Ltd. through Xugong Group (Hong Kong) International Trading Co., Ltd. This outbound investment constitutes a related party transaction.
Feature & benefit
1. Energy saving: only drainage, no exhaust;
2. Efficiency: word displacement, low frequency of action, long service life;
3. Reliability: It is best not to have movable parts in the water storage tank. Because condensation is corrosive, there are no movable components in the water tank, which can reduce the failure rate and improve the reliability.
Working Principle
Advantage
1.Automatic drains are often at the lowest end of air compressor piping or other compressed air treatment systems. The advantage is that no manual care is required.
2. Even in places where the space is relatively small and too high, it can also play a good drainage effect.
3.It can prevent the artificial drainage from being forgotten and causing the tight air to be re-contaminated with condensed water.
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XCMG Brazil manufactures, imports, exports, installs, manufactures and sells construction machinery, parts and accessories, as well as third-party engineering management, maintenance of earthworks, roads, construction machinery and tractors. After the capital increase, Xugong Hong Kong trade held Xugong Brazil to make 99.8% of the shares.
Xugong Machinery said that this capital increase is mainly to support the company's "internationalization" strategy and further enhance the company's ability to expand the international market. The capital increase will be used to expand the capital of XCMG Brazil, which will effectively improve the asset structure of XCMG Brazil, reduce the scale of liabilities, reduce exchange rate risks, and strengthen XCMG Brazil's ability to create risk-resistance and capital operations. This will accelerate the establishment of XCMG Brazil Industrial Park and speed up Xugong Machinery's South American business integration has played a positive role in promoting.
Drains are designed with float ball drain system. The outlet of the drain will close and stop draining if the draining buoyancy is smaller than the float ball's weight and the pressure from the compressed air. It will have a trickle of drainage if the float weight and pressure are balanced. It will open and start draining if the draining buoyance is greater than the float ball's weight and the pressure from the compressed air. It works cyclically according to the buoyancy.