Xiangyang, Hubei – Hubei Huitian Adhesive Enterprise, China’s largest polyurethane adhesives producer in volume, in January posted estimates on its 2013 net profit at RMB78m ($13m) to 92m ($15mn), up 10% to 30% from 2012.
The company currently has 8kT/year capacity for polyurethane adhesives. The company has stepped into the solar panel back sheet market and expects to double its production in 2014 to 12m m2. Solar backsheets are likely to become the company’s fastest growing product sector in 2014 said board secretary Tian Haidong.
Huitian was founded in 1977 as China’s first research institute for adhesives and transformed into a technology firm in 1997. It still boasts cutting edge research capability and in 2012 set up a joint base with the Chinese Academy of Sciences, aiming to shape it into a world-class adhesives research center.
XE currency conversion: 10 February