Ziwo: PRC raw material producer of import substitution products plans to invest RMB 124m to expand production facilities to meet rising demand. Investment will be funded through a mix of internal resources or loans…..
Expansion plan comprises RMB 30m to acquire land, RMB 50m to develop land, RMB 45m to add 4 new foamed SBR production lines, which will double foamed SBR facility to 65,000 Tonnes. Construction of building is expected to start in Nov and group expects project to be completed within 9 mths. We note that for 2Q 10, grp reported a 12.2% YoY growth in net profit at RMB32.4m, as sales volume rose for the same period by 21.6%
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