Xiangyang, Hubei – Huitian New Materials’ 3kT/year solvent-free polyurethane adhesive expansion project was approved by inspectors in March, the company told UTECH-polyurethane.com.
It is located at the company’s existing site in Xiangyang, Hubei province and covers 7,600 m2. The project started in 2016. Trials began in January 2018.
The project includes two new lines, including one for continuous production. CNY 38m ($6m) has been invested in the expansion which has created 30 new jobs. These bring the company’s total employee headcount to 255.
Huitian has been planning another polyurethane adhesive project with 20kT/year capacity, as UTECH-polyurethane.com reported at the time, but construction has not yet started.
Huitian also makes other types of adhesives, as well as solar panel back sheets. In 2017 the company reported a 34% year-on-year rise in total revenue to CNY 1.5bn, said its annual report.
Polyurethane adhesives brought in CNY 211m sales for 2017. The segment had 27% gross margin, down 10% from 2016.
Polyurethane adhesives’ average price has been dropping, said Huitian’s annual report. Factors such as the slowdown in China’s high-speed railway construction also curbed demand.
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