The facility’s total investment was CNY 92m ($14 m) and is expected to generate CNY 42m annual profit on CNY 397m sales when in full operation.
Located at the company’s site in Nanjing, Jiangsu, the facility comprises three 10kT/year production lines, including one for TPEG. Products made here will be used in areas such as coatings and elastomers .
“The project broadens our product portfolio and application area… as well as raises our research capability for new technologies,” said the statement. “It will help the company’s long-term development.”
Exchange Rates: Xe.com 5 October 2016.