Xianyang, Shaanxi – Beijing Oriental Yuhong Waterproof Technology broke ground in February 2014 on its new PU and polyurea manufacturing base in the SME Incubator in Liquan county, Xianyang, Shaanxi province.
Yuhong plans to invest RMB1bn ($161mn) in the new project. It will take up 200,000 m2 and will have a 50kT/year capacity for PU and polyurea coatings, among capacity additions for other products. The construction is scheduled to be completed within 36 months.
Yuhong claims to be the leader of China’s waterproof materials market and exports to more than 70 countries. It currently has eight manufacturing bases across China, with a 130kT/year capacity for various coatings and an 87m m² /year capacity for waterproof membranes.
According to the company’s estimates of its 2013 annual results, its net profit rose 93% to RMB364mn last year on a 33% increase in revenue to RMB4bn.
XE currency conversion: 10 March