Zhuzhou, Hunan - Zhuzhou Times New Material Technology (TMT), a developer and maker of polymer compounds and coatings confirmed that , in April 2014 completed China's first production line for PU elastomer joint resins used in railway bridges.
The production line has a 5kT/year capacity, enough to provide for the construction of new railway bridges in the country as well as for the maintenance of old ones. The market in China is valued at over RMB500m ($80.25m), said the company's website.
TMT was first set up as a state-owned research laboratory for latex in 1984, and currently has 200 patents and 2,700 employees. It also houses China's only inspection centre for polymer materials and products used in railway transportation.
The company is listed on the Shanghai Stock Exchange and controlled by CSR Corporation Limited, a state-owned manufacturer of railway machinery headquartered in Beijing. In 2013, TMT had RMB4.2bn revenue, up 12% from 2012, while its net profit dropped 23% to RMB122mn with increased expenditure on research.
Last year, TMT had RMB1.8bn sales from the railway sector. According to its 2013 annual report, the company's WJ8 polyurethane base-plate used in fasteners has a 90% share in the China market.
Currency conversion: 19 June 2014.
