On January 26, Huafeng Chemical issued an announcement saying that in order to consolidate and expand the overall competitive advantage, further optimize the company’s product structure, and to build an internationally leading high-tech fiber and new material manufacturing base and become a world-class enterprise, the company’s holding subsidiaries Huafeng Chongqing Spandex Co., Ltd. invested in a 300,000 tons/year differentiated spandex project.
The announcement shows that the project is expected to have a total investment of 4.36 million yuan. The source of funds is bank loans and self-raised funds. The project construction period is expected to be 72 months and will be implemented in three phases. (The first phase: 50,000 tons/year construction period is expected to be 24 months, the second phase: 150,000 tons/year construction period is expected to be 24 months, and the third phase: 100,000 tons/year construction period is expected to be 24 months). The process technology adopts large-capacity continuous polymerization, dry spinning and other process routes, and all adopt automatic, intelligent, energy-efficient, high-density multi-end spinning production lines.
Huafeng Company stated that after the project is put into production, the overall scale of the company will be further expanded, the proportion of differentiated products will be further increased, and the market share and influence will be significantly increased. The new equipment, new technology and new technology adopted in the new project will further reduce the company's overall production costs and bring the company a relatively large profit return.
