Chongqing, China - Huafon's 30kT/year elastane facility in Chongqing finished its trial run in February 2015 and started operation the same month, according to the company's announcement dated 27 Feb.
The project started trial run in November 2014 – as utech-polyurethane.com reported at the time – and was originally expected to go into full operation by the year end.
The new facility, or the first phase of the company's 60kT/year project, puts its total capacity at 87kT/year, according to the announcement. "The new facility has a much lower cost than our existing facilities, thanks to a closer supply of feedstock and improved technology," said the company on its shareholder platform.
Huafon's preliminary 2014 results showed a 44% surge in net profit to RMB399m ($63m) on a slight drop in revenue to RMB2.4bn. Lower feedstock price is the main contributor to the increased margin, according to the company.
XE Currency Conversion: 2 March, 2015