Guangzhou, Guangdong – Jurong Ningwu New Material is mulling a new polyol plant at its existing site in Zhenjiang, Jiangsu, the company’s sales manager Cai Minjun told UTECH-polyurethane.com in an exclusive interview at PU China 2017.
More details of the new plant are yet to be disclosed.
Set up in 2001, the Huntsman joint venture has 270,000 m2 total area with 300kT/year polyol capacity. Last year the company upped its revenue by 10% to CNY 2.2bn ($336m), 40% of which came from overseas markets, mostly the ASEAN countries.
Cai expects the company to grow at similar annual rates over the next few years. ‘We are also planning to expand into the Europe and the U.S. markets. Right now our biggest concern is higher logistics costs,’ he said.
Exchange Rates: Xe.com 5 September 2017