Guangzhou, China – Hengguang Chemical Technology started operation of its 7.2kT/year modified MDI facility using its own technology in March 2015, the company told UTECH-polyurethane.com in an exclusive interview at the UTECH Asia/PU China 2015 event held in Guangzhou.
Construction began in 2012 and received RMB10m ($1.6m) investment, according to the company.
Hengguang is based in Suzhou, Jiangsu with 50 employees and a plant in nearby city Nantong’s Economic & Technological Development Area. The company also makes polyurethane adhesives, waterborne coatings, blowing catalysts and stannous octoate, and is planning to add specialty polyols to its portfolio.
The company, set up in 2010, saw its revenue almost double each year over the past few years to RMB80m in 2014. Sales are particularly good in Guangdong, Sichuan and Shanghai, it reports.
“We have upstream facilities and are basically immune to feedstock price fluctuation,” said Li Guang, general manager of Hengguang. “We are expecting continued rapid growth over the next few years.”
XE Currency conversion: 7 September 2015