Ningbo, China-Chinese isocyanates producer Yantai Wanhua Polyurethanes Co Ltd had a nearly 60 percent surge in sales last year to Rmb3300 million ($412 million).
Yantai Wanhua's profits also rose, by over 50 percent, to Rmb617.6million, as its sales of MDI (methylene diphenyl diisocyanate) soared, the firm indicated.
Yantai's first MDI plant is a 100 kilotonnes per annum facility at Yantai, east of Beijing. Now a new 160 ktpa unit has started up at Ningbo, south of Shanghai, contributing to the sales surge.
Guo Xingtian, Yantai Wanhua's vice general manager and board director, told Urethanes Technology at the end of last year that the firm plans to raise MDI capacity to 260 ktpa early in 2006.
Guo also said that Yantai plans to raise its capacity for thermoplastic polyurethanes to 25 ktpa by the end of 2006, and to eventually double this to 50 ktpa.