Shanghai, China – Longhua New Material, which makes flexible, CASE and polymer polyols, is to complete construction and installation at its 360kT/year plant in Zibo, Shandong province by the end of 2021.
The plant has CNY200m ($31m) investment, and will be dedicated to high-activity CASE polyols, the company told UTECH-polyurethane.com on the sidelines at PU China/UTECH Asia.
CASE will become the next growth point thanks to the growing number of new applications, Longhua’s vice general manager Li Zhenli said. The company currently has 360kT/year total capacity at its old plant nearby, a part of which will be relocated to the new plant.
Last year, the company’s revenue amounted to CNY2.4bn, up 20% from 2019. Revenue for the first half of 2021 was CNY2bn.
Rising feedstock prices contributed to the increase in sales, Li said. Halted production and shipping at overseas competitors’ plants because of the coronavirus pandemic also contributed.
