Tieling, Shenyang – Lvyuan New Material (Shenyang) is financing for a 6m m2/year factory with investment estimated at RMB120m ($19m), according to a notice by Tieling Hi-tech Industrial Development Zone posted in February 2015.
The project, located at the development zone, has a total area of 31,000 m2 and is expected to bring in RMB300m annual sales when in operation.
Lvyuan New Material (Shenyang) currently has 1m m2/year PU panel capacity, 300,000m³/year rigid PU foam capacity and its own polyether polyol facilities. It was set up in 2012 as a subsidiary of Jiangsu-based Lvyuan, a maker of polyols and rigid and flexible foams.
XE Currency Conversion: 5 March, 2015